Starbucks Co. (NASDAQ:SBUX) Holdings Cut by Balboa Wealth Partners

Balboa Wealth Partners lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 12.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,387 shares of the coffee company’s stock after selling 463 shares during the period. Balboa Wealth Partners’ holdings in Starbucks were worth $309,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Financial Life Planners bought a new stake in shares of Starbucks in the 4th quarter worth approximately $25,000. Collier Financial acquired a new stake in shares of Starbucks during the fourth quarter worth $27,000. Marshall Investment Management LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at $30,000. Noble Wealth Management PBC acquired a new position in shares of Starbucks in the 4th quarter valued at $30,000. Finally, Centricity Wealth Management LLC purchased a new position in Starbucks in the 4th quarter worth about $36,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wedbush raised 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. 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 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 report on Friday, January 24th. Finally, Wells Fargo & Company lifted their price target on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Starbucks Trading Down 2.7 %

NASDAQ:SBUX opened at $96.04 on Friday. The firm has a market capitalization of $109.09 billion, a PE ratio of 30.98, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The firm’s fifty day simple moving average is $104.71 and its 200 day simple moving average is $99.20.

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

Starbucks Company 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.