Starbucks Co. (NASDAQ:SBUX) Shares Sold by Lyell Wealth Management LP

Lyell Wealth Management LP lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 8.0% in the 4th quarter, HoldingsChannel reports. The firm owned 17,365 shares of the coffee company’s stock after selling 1,520 shares during the quarter. Lyell Wealth Management LP’s holdings in Starbucks were worth $1,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Financial Life Planners acquired a new position in shares of Starbucks in the fourth quarter worth about $25,000. Collier Financial acquired a new position in shares of Starbucks in the fourth quarter worth about $27,000. DT Investment Partners LLC raised its position in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares during the period. FSA Wealth Management LLC acquired a new position in shares of Starbucks in the third quarter worth about $49,000. Finally, Morton Brown Family Wealth LLC raised its position in shares of Starbucks by 43.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock worth $46,000 after acquiring an additional 154 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Redburn Atlantic restated a “sell” rating and set a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Wells Fargo & Company upped their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Finally, Citigroup increased their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $113.03 on Wednesday. The company’s fifty day moving average price is $98.85 and its 200 day moving average price is $96.66. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $113.47. The firm has a market capitalization of $128.39 billion, a P/E ratio of 36.46, a P/E/G ratio of 3.55 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the company posted $0.90 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 3 EPS for the current year.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

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.