Starbucks Co. (NASDAQ:SBUX) Shares Sold by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 42.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,739 shares of the coffee company’s stock after selling 4,264 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Starbucks were worth $524,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Financial Life Planners acquired a new position in Starbucks in the fourth quarter valued at $25,000. Collier Financial purchased a new stake in Starbucks during the fourth quarter valued at about $27,000. Runnymede Capital Advisors Inc. acquired a new stake in Starbucks during the fourth quarter worth about $27,000. Marshall Investment Management LLC purchased 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. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on SBUX. BMO Capital Markets lifted their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Wedbush increased their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Stifel Nicolaus upped their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks Stock Up 2.2 %

Starbucks stock opened at $97.97 on Thursday. The firm has a 50-day moving average price of $105.61 and a two-hundred day moving average price of $99.47. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market capitalization of $111.28 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 last year, the business posted $0.90 earnings per share. Research analysts expect that Starbucks Co. will post 2.99 earnings per share 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.