Starbucks Co. (NASDAQ:SBUX) Shares Sold by Wealth Alliance

Wealth Alliance lowered its position in Starbucks Co. (NASDAQ:SBUX) by 28.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,740 shares of the coffee company’s stock after selling 4,573 shares during the quarter. Wealth Alliance’s holdings in Starbucks were worth $1,071,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Citigroup boosted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. UBS Group boosted their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wedbush boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Barclays boosted their price objective 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. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Price Performance

SBUX stock opened at $113.34 on Friday. The firm has a market cap of $128.74 billion, a PE ratio of 36.56, a P/E/G ratio of 3.56 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $113.50. The firm has a 50 day simple moving average of $99.44 and a 200 day simple moving average of $96.89.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping 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 quarter in the previous year, the business earned $0.90 earnings per share. As a group, sell-side analysts expect that Starbucks Co. will post 3 earnings per share for the current 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.