Buckingham Capital Management Inc. Sells 3,435 Shares of Starbucks Co. (NASDAQ:SBUX)

Buckingham Capital Management Inc. cut its stake in Starbucks Co. (NASDAQ:SBUX) by 8.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,686 shares of the coffee company’s stock after selling 3,435 shares during the quarter. Buckingham Capital Management Inc.’s holdings in Starbucks were worth $3,621,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SBUX. Financial Life Planners bought a new stake in shares of Starbucks in the 4th quarter valued at about $25,000. Collier Financial bought a new stake in shares of Starbucks in the 4th quarter valued at about $27,000. DT Investment Partners LLC increased its stake in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares during the last quarter. FSA Wealth Management LLC bought a new stake in shares of Starbucks in the 3rd quarter valued at about $49,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Starbucks in the 4th quarter valued at about $56,000. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on SBUX shares. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Bank of America decreased their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Wedbush boosted their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Citigroup boosted their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Trading Down 0.4 %

Starbucks stock opened at $112.55 on Tuesday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $113.47. The firm has a market capitalization of $127.85 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. The firm’s fifty day moving average price is $98.28 and its two-hundred day moving average price is $96.14.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates 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 company earned $0.90 EPS. On average, research analysts forecast that Starbucks Co. will post 3 EPS for the current year.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

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.