Mendel Money Management Cuts Position in Starbucks Co. (NASDAQ:SBUX)

Mendel Money Management cut its position in Starbucks Co. (NASDAQ:SBUX) by 1.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,949 shares of the coffee company’s stock after selling 125 shares during the period. Mendel Money Management’s holdings in Starbucks were worth $634,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Financial Life Planners acquired a new stake in shares of Starbucks during the fourth quarter worth about $25,000. Collier Financial acquired a new stake in Starbucks during the 4th quarter worth approximately $27,000. Runnymede Capital Advisors Inc. purchased a new position in Starbucks in the 4th quarter valued at approximately $27,000. Marshall Investment Management LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at $30,000. Finally, Noble Wealth Management PBC purchased a new position in Starbucks in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. UBS Group increased their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their target price on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. BMO Capital Markets upped their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a report on Tuesday, March 18th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Trading Up 0.2 %

SBUX stock opened at $95.88 on Wednesday. The company has a market cap of $108.91 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 3.59 and a beta of 0.99. The firm has a 50 day moving average of $105.51 and a 200-day moving average of $99.48. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the business earned $0.90 EPS. Sell-side analysts forecast 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.