Transcend Capital Advisors LLC Sells 2,016 Shares of Starbucks Co. (NASDAQ:SBUX)

Transcend Capital Advisors LLC cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 11.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,975 shares of the coffee company’s stock after selling 2,016 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Starbucks were worth $1,367,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Financial Life Planners acquired a new stake in shares of Starbucks during the fourth quarter worth $25,000. Collier Financial bought a new position in Starbucks during the fourth quarter worth about $27,000. Centricity Wealth Management LLC acquired a new position in shares of Starbucks during the 4th quarter worth about $36,000. DT Investment Partners LLC increased its stake in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in shares of Starbucks in the 3rd quarter valued at approximately $49,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $111.75 on Friday. The stock has a 50 day moving average price of $99.72 and a 200 day moving average price of $97.15. The stock has a market capitalization of $126.94 billion, a PE ratio of 36.05, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $114.68.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 period in the previous year, the firm earned $0.90 earnings per share. As a group, research analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Redburn Atlantic reissued a “sell” rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Barclays raised their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. BMO Capital Markets boosted their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $105.33.

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.