Marietta Investment Partners LLC Cuts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Marietta Investment Partners LLC lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 24.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,822 shares of the coffee company’s stock after selling 3,130 shares during the period. Marietta Investment Partners LLC’s holdings in Starbucks were worth $896,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new position in Starbucks during the fourth quarter worth approximately $62,000. Arizona State Retirement System raised its stake in shares of Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after acquiring an additional 2,722 shares during the period. West Michigan Advisors LLC purchased a new position in shares of Starbucks in the 4th quarter valued at $265,000. Wernau Asset Management Inc. purchased a new position in shares of Starbucks in the 4th quarter valued at $258,000. Finally, Investment Management Corp of Ontario raised its stake in shares of Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after acquiring an additional 12,300 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SBUX. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Tuesday. Wells Fargo & Company raised 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. 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. Barclays raised their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Stifel Nicolaus raised 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 research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Trading Down 2.2 %

Shares of NASDAQ:SBUX opened at $97.07 on Friday. The company has a 50 day moving average of $105.41 and a 200-day moving average of $99.32. The firm has a market cap of $110.26 billion, a P/E ratio of 31.31, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate 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 firm earned $0.90 earnings per share. Equities research analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

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.