RPG Investment Advisory LLC Sells 1,003 Shares of Starbucks Co. (NASDAQ:SBUX)

RPG Investment Advisory LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,203 shares of the coffee company’s stock after selling 1,003 shares during the quarter. RPG Investment Advisory LLC’s holdings in Starbucks were worth $7,957,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SBUX. Wellington Management Group LLP grew its stake in Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares in the last quarter. FMR LLC lifted its position in shares of Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after buying an additional 7,015,375 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Starbucks by 1,491.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after buying an additional 2,632,087 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Starbucks by 1,078.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after buying an additional 2,329,431 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Starbucks in the third quarter valued at approximately $126,574,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Starbucks stock opened at $111.75 on Monday. Starbucks Co. has a one year low of $71.55 and a one year high of $114.68. The stock’s fifty day moving average price is $99.72 and its two-hundred day moving average price is $97.46. The firm has a market cap of $126.94 billion, a PE ratio of 36.05, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period last year, the business posted $0.90 EPS. Sell-side analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wedbush raised their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Barclays raised their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. BMO Capital Markets raised their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, TD Cowen reissued a “buy” rating and set a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

About Starbucks

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.