Brown Miller Wealth Management LLC Has $4.05 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Brown Miller Wealth Management LLC cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,399 shares of the coffee company’s stock after selling 263 shares during the period. Starbucks comprises approximately 1.6% of Brown Miller Wealth Management LLC’s investment portfolio, making the stock its 10th biggest position. Brown Miller Wealth Management LLC’s holdings in Starbucks were worth $4,051,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in Starbucks by 1.0% during the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after purchasing an additional 437,218 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Starbucks by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after acquiring an additional 333,004 shares during the last quarter. FMR LLC lifted its stake in shares of Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Starbucks by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company’s stock valued at $1,087,406,000 after acquiring an additional 154,093 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Down 2.7 %

Starbucks stock opened at $96.04 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The company’s 50 day moving average price is $104.71 and its two-hundred day moving average price is $99.20. The stock has a market cap of $109.09 billion, a P/E ratio of 30.98, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the previous year, the firm posted $0.90 EPS. On average, equities analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. UBS Group increased their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. BMO Capital Markets increased their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Stifel Nicolaus increased their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Barclays increased their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.75.

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.