Independent Advisor Alliance Has $2.24 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Independent Advisor Alliance lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 18.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 24,552 shares of the coffee company’s stock after selling 5,530 shares during the quarter. Independent Advisor Alliance’s holdings in Starbucks were worth $2,240,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners bought a new position in Starbucks during the fourth quarter worth $25,000. Collier Financial bought a new position in shares of Starbucks in the 4th quarter worth about $27,000. Marshall Investment Management LLC acquired a new position in shares of Starbucks in the 4th quarter valued at about $30,000. Noble Wealth Management PBC acquired a new position in shares of Starbucks in the 4th quarter valued at about $30,000. Finally, Centricity Wealth Management LLC acquired a new stake in Starbucks during the fourth quarter worth approximately $36,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 2.7 %

Shares of NASDAQ SBUX opened at $96.04 on Friday. The company has a market capitalization of $109.09 billion, a PE ratio of 30.98, a PEG ratio of 3.59 and a beta of 0.99. The stock’s 50 day moving average price is $104.71 and its 200-day moving average price is $99.20. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its 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 posted $0.90 earnings per share. As a group, research analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SBUX has been the topic of several recent analyst reports. Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Barclays boosted their target price on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. BMO Capital Markets raised their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. UBS Group upped their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Stifel Nicolaus raised their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $105.75.

About Starbucks

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.