Starbucks Co. (NASDAQ:SBUX) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 24.3% during the 4th quarter, HoldingsChannel reports. The fund owned 121,492 shares of the coffee company’s stock after selling 38,972 shares during the quarter. Advisors Asset Management Inc.’s holdings in Starbucks were worth $11,086,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SBUX. Financial Life Planners acquired a new position in Starbucks in the fourth quarter valued at about $25,000. Collier Financial acquired a new position in Starbucks in the fourth quarter valued at about $27,000. Marshall Investment Management LLC acquired a new position in Starbucks in the fourth quarter valued at about $30,000. Noble Wealth Management PBC purchased a new stake in Starbucks during the fourth quarter worth about $30,000. Finally, Centricity Wealth Management LLC purchased a new stake in Starbucks during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 1.0 %

SBUX stock opened at $99.08 on Tuesday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The stock’s 50 day moving average is $104.94 and its two-hundred day moving average is $99.28. The company has a market capitalization of $112.54 billion, a PE ratio of 31.96, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, sell-side analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SBUX shares. Wells Fargo & Company boosted their price target 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Wedbush increased their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Stifel Nicolaus increased their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Barclays increased their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.75.

Starbucks 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.