Starbucks Co. (NASDAQ:SBUX) Shares Sold by Hollencrest Capital Management

Hollencrest Capital Management lessened its position in Starbucks Co. (NASDAQ:SBUX) by 1.3% during the fourth quarter, Holdings Channel reports. The fund owned 20,393 shares of the coffee company’s stock after selling 264 shares during the quarter. Hollencrest Capital Management’s holdings in Starbucks were worth $1,861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. HighTower Advisors LLC increased its stake in Starbucks by 15.9% during the 4th quarter. HighTower Advisors LLC now owns 1,789,507 shares of the coffee company’s stock valued at $163,293,000 after buying an additional 245,922 shares during the period. Bender Robert & Associates increased its stake in Starbucks by 2.7% during the 4th quarter. Bender Robert & Associates now owns 44,406 shares of the coffee company’s stock valued at $4,052,000 after buying an additional 1,155 shares during the period. Natural Investments LLC acquired a new position in Starbucks during the 4th quarter valued at about $1,295,000. Avantax Planning Partners Inc. increased its stake in Starbucks by 3.7% during the 4th quarter. Avantax Planning Partners Inc. now owns 12,938 shares of the coffee company’s stock valued at $1,181,000 after buying an additional 462 shares during the period. Finally, Markel Group Inc. increased its stake in Starbucks by 2.8% during the 4th quarter. Markel Group Inc. now owns 617,318 shares of the coffee company’s stock valued at $56,330,000 after buying an additional 17,000 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several research analyst reports. UBS Group raised their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Wedbush lifted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, BMO Capital Markets lifted their price objective 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. Three 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’s stock. According to MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $105.75.

Starbucks Stock Performance

Shares of SBUX opened at $99.58 on Wednesday. The firm has a market cap of $113.11 billion, a PE ratio of 32.12, a PEG ratio of 3.59 and a beta of 0.99. The firm’s 50 day moving average price is $104.48 and its 200 day moving average price is $99.23. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the firm earned $0.90 EPS. On average, sell-side 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.