Financial Management Network Inc. Lowers Position in Starbucks Co. (NASDAQ:SBUX)

Financial Management Network Inc. lessened its position in Starbucks Co. (NASDAQ:SBUX) by 10.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,809 shares of the coffee company’s stock after selling 329 shares during the quarter. Financial Management Network Inc.’s holdings in Starbucks were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Starbucks by 1.0% in the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after purchasing an additional 437,218 shares during the period. Geode Capital Management LLC lifted its stake in shares of Starbucks by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after purchasing an additional 333,004 shares during the period. FMR LLC lifted its stake in shares of Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the period. Wellington Management Group LLP lifted its stake in shares of Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Starbucks by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after purchasing an additional 327,734 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Wedbush lifted their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. BMO Capital Markets lifted their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Finally, UBS Group lifted their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Price Performance

Shares of SBUX opened at $113.03 on Wednesday. Starbucks Co. has a one year low of $71.55 and a one year high of $113.47. The firm has a market capitalization of $128.39 billion, a P/E ratio of 36.46, a PEG ratio of 3.55 and a beta of 1.00. The business has a fifty day moving average of $98.85 and a 200 day moving average of $96.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter last year, the firm earned $0.90 earnings per share. Analysts expect that Starbucks Co. will post 3 EPS for the current fiscal year.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.