Starbucks Co. (NASDAQ:SBUX) Shares Sold by Ballast Advisors LLC

Ballast Advisors LLC cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,021 shares of the coffee company’s stock after selling 177 shares during the quarter. Ballast Advisors LLC’s holdings in Starbucks were worth $367,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Financial Life Planners purchased a new stake in Starbucks in the fourth quarter valued at approximately $25,000. Collier Financial acquired a new stake in Starbucks during the 4th quarter worth $27,000. Marshall Investment Management LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at about $30,000. Noble Wealth Management PBC purchased a new stake in Starbucks in the fourth quarter valued at approximately $30,000. Finally, Centricity Wealth Management LLC purchased a new position in Starbucks during the 4th quarter worth $36,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. BMO Capital Markets boosted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. UBS Group upped their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Barclays lifted their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company increased their price target on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Finally, Wedbush boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Three 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $99.28 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The stock’s fifty day moving average price is $105.31 and its two-hundred day moving average price is $99.30. The firm has a market cap of $112.77 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period last year, the firm earned $0.90 EPS. On average, equities analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

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.