Sciencast Management LP Sells 14,541 Shares of Starbucks Co. (NASDAQ:SBUX)

Sciencast Management LP trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 51.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,928 shares of the coffee company’s stock after selling 14,541 shares during the period. Sciencast Management LP’s holdings in Starbucks were worth $1,271,000 at the end of the most recent quarter.

Other institutional investors and 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 valued at about $25,000. Collier Financial acquired a new stake in Starbucks during the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC acquired a new stake in Starbucks during the fourth quarter valued at approximately $30,000. Noble Wealth Management PBC acquired a new stake in Starbucks during the fourth quarter valued at approximately $30,000. Finally, Centricity Wealth Management LLC acquired a new stake in Starbucks during the fourth quarter valued at approximately $36,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. BMO Capital Markets lifted their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. UBS Group lifted their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. Finally, Barclays boosted their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks Stock Performance

Shares of Starbucks stock opened at $97.07 on Friday. The firm has a fifty day moving average of $105.41 and a two-hundred day moving average of $99.36. The stock has a market capitalization of $110.26 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the business posted $0.90 earnings per share. As a group, research analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.

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.