Starbucks Co. (NASDAQ:SBUX) Shares Sold by Mengis Capital Management Inc.

Mengis Capital Management Inc. decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 71.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,070 shares of the coffee company’s stock after selling 24,837 shares during the quarter. Mengis Capital Management Inc.’s holdings in Starbucks were worth $919,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. CWS Financial Advisors LLC grew its position in Starbucks by 7.9% in the fourth quarter. CWS Financial Advisors LLC now owns 5,022 shares of the coffee company’s stock worth $458,000 after buying an additional 367 shares during the last quarter. Coyle Financial Counsel LLC acquired a new position in Starbucks in the fourth quarter worth approximately $263,000. Pine Valley Investments Ltd Liability Co grew its position in Starbucks by 1.2% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 10,678 shares of the coffee company’s stock worth $974,000 after buying an additional 123 shares during the last quarter. Impax Asset Management Group plc grew its position in Starbucks by 253.5% during the 4th quarter. Impax Asset Management Group plc now owns 312,653 shares of the coffee company’s stock worth $28,530,000 after purchasing an additional 224,214 shares in the last quarter. Finally, Rothschild Investment LLC grew its position in Starbucks by 8.7% during the 4th quarter. Rothschild Investment LLC now owns 31,005 shares of the coffee company’s stock worth $2,829,000 after purchasing an additional 2,491 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of several research analyst reports. Citigroup lifted their price objective 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. Barclays lifted their price objective on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. BMO Capital Markets lifted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Trading Up 1.3 %

SBUX stock opened at $113.19 on Tuesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $114.68. The company has a fifty day simple moving average of $100.13 and a 200 day simple moving average of $97.72. The firm has a market cap of $128.57 billion, a PE ratio of 36.51, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period last year, the firm posted $0.90 earnings per share. As a group, analysts forecast 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.