Starbucks Co. (NASDAQ:SBUX) Shares Sold by Paces Ferry Wealth Advisors LLC

Paces Ferry Wealth Advisors LLC lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,263 shares of the coffee company’s stock after selling 332 shares during the quarter. Paces Ferry Wealth Advisors LLC’s holdings in Starbucks were worth $389,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in shares of Starbucks in the 4th quarter valued at $25,000. Collier Financial acquired a new position in Starbucks in the fourth quarter valued at about $27,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks in the fourth quarter valued at about $27,000. Marshall Investment Management LLC acquired a new stake in shares of Starbucks during the fourth quarter valued at about $30,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $30,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBUX has been the subject of several research reports. Barclays lifted their target price on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. UBS Group lifted their target price on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research report on Tuesday, March 18th. Wedbush upped their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $106.12.

Starbucks Stock Down 2.2 %

NASDAQ:SBUX opened at $97.07 on Friday. The company has a market capitalization of $110.26 billion, a PE ratio of 31.31, a P/E/G 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. The stock’s 50 day moving average price is $105.41 and its 200 day moving average price is $99.36.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS 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 previous year, the business posted $0.90 EPS. As a group, sell-side analysts anticipate that Starbucks Co. will post 2.99 EPS 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.