Marble Harbor Investment Counsel LLC Has $1.03 Million Position in Starbucks Co. (NASDAQ:SBUX)

Marble Harbor Investment Counsel LLC reduced its position in Starbucks Co. (NASDAQ:SBUX) by 7.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,330 shares of the coffee company’s stock after selling 950 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Starbucks were worth $1,034,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. UBS Group lifted their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Stifel Nicolaus boosted their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company boosted their price objective on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Finally, TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Price Performance

Starbucks stock opened at $106.48 on Friday. The company’s 50-day moving average is $104.10 and its 200-day moving average is $99.04. The firm has a market capitalization of $120.95 billion, a PE ratio of 34.35, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the company posted $0.90 earnings per share. As a group, analysts expect that Starbucks Co. will post 2.99 EPS for the current 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.