Starbucks Co. (NASDAQ:SBUX) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.7% during the fourth quarter, HoldingsChannel reports. The fund owned 192,609 shares of the coffee company’s stock after selling 5,352 shares during the quarter. Financial Counselors Inc.’s holdings in Starbucks were worth $17,576,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Wedbush raised their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. BMO Capital Markets increased their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Finally, Stifel Nicolaus increased their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Price Performance

SBUX stock opened at $95.88 on Wednesday. The firm has a market cap of $108.91 billion, a PE ratio of 30.93, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a 50 day simple moving average of $105.51 and a 200 day simple moving average of $99.48.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating 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 firm posted $0.90 earnings per share. As a group, sell-side analysts expect that Starbucks Co. will post 2.99 earnings per share for the current 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.