Cypress Capital Group Sells 3,386 Shares of Starbucks Co. (NASDAQ:SBUX)

Cypress Capital Group lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 12.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 24,454 shares of the coffee company’s stock after selling 3,386 shares during the quarter. Cypress Capital Group’s holdings in Starbucks were worth $2,231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SBUX. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Starbucks by 6.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 45,446 shares of the coffee company’s stock valued at $4,431,000 after purchasing an additional 2,590 shares during the last quarter. Catalyst Capital Advisors LLC lifted its holdings in shares of Starbucks by 61.7% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,779 shares of the coffee company’s stock valued at $173,000 after purchasing an additional 679 shares during the last quarter. FSM Wealth Advisors LLC lifted its holdings in shares of Starbucks by 6.4% during the 3rd quarter. FSM Wealth Advisors LLC now owns 4,526 shares of the coffee company’s stock valued at $441,000 after purchasing an additional 273 shares during the last quarter. Greenwood Capital Associates LLC purchased a new stake in shares of Starbucks during the 3rd quarter valued at $200,000. Finally, James J. Burns & Company LLC purchased a new stake in shares of Starbucks during the 3rd quarter valued at $286,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. UBS Group increased their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. BMO Capital Markets raised their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Stifel Nicolaus raised their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Barclays raised their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Three 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 given a strong buy rating to the company. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $105.75.

Starbucks Price Performance

Shares of Starbucks stock opened at $112.06 on Wednesday. The stock has a market cap of $127.29 billion, a P/E ratio of 36.15, a P/E/G ratio of 3.59 and a beta of 1.00. The stock’s 50 day simple moving average is $103.11 and its 200-day simple moving average is $98.80. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 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 quarter last year, the firm posted $0.90 EPS. As a group, research analysts expect 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.