Good Life Advisors LLC Trims Holdings in Starbucks Co. (NASDAQ:SBUX)

Good Life Advisors LLC lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 16.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,221 shares of the coffee company’s stock after selling 1,830 shares during the quarter. Good Life Advisors LLC’s holdings in Starbucks were worth $841,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Kuhn & Co Investment Counsel raised its stake in shares of Starbucks by 2.3% in the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after purchasing an additional 96 shares in the last quarter. Jmac Enterprises LLC increased its holdings in Starbucks by 1.0% in the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock valued at $912,000 after buying an additional 103 shares during the last quarter. Aspire Capital Advisors LLC raised its stake in Starbucks by 0.5% during the fourth quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock valued at $2,118,000 after buying an additional 104 shares in the last quarter. Optas LLC lifted its holdings in Starbucks by 0.6% during the 4th quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock worth $1,525,000 after buying an additional 105 shares during the last quarter. Finally, Boomfish Wealth Group LLC grew its position in shares of Starbucks by 0.7% in the 4th quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock worth $1,399,000 after acquiring an additional 108 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Stifel Nicolaus raised their price target on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. BMO Capital Markets increased their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their target price on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Citigroup increased their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Stock Down 0.5 %

Shares of Starbucks stock opened at $112.49 on Thursday. The business has a fifty day simple moving average of $99.13 and a 200-day simple moving average of $96.77. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $113.47. The firm has a market cap of $127.78 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 3.55 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the business posted $0.90 earnings per share. Analysts anticipate that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks 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.