Good Life Advisors LLC Cuts Position in Starbucks Co. (NASDAQ:SBUX)

Good Life Advisors LLC reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 16.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,221 shares of the coffee company’s stock after selling 1,830 shares during the period. Good Life Advisors LLC’s holdings in Starbucks were worth $841,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC grew its position in Starbucks by 10.0% during the fourth quarter. Global Retirement Partners LLC now owns 51,350 shares of the coffee company’s stock worth $4,686,000 after buying an additional 4,667 shares during the period. Bank of Jackson Hole Trust purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $555,000. Lorne Steinberg Wealth Management Inc. grew its holdings in shares of Starbucks by 1.4% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 53,675 shares of the coffee company’s stock worth $4,898,000 after acquiring an additional 735 shares during the period. Klingman & Associates LLC increased its stake in Starbucks by 5.3% in the 4th quarter. Klingman & Associates LLC now owns 3,441 shares of the coffee company’s stock valued at $314,000 after purchasing an additional 172 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Starbucks by 1.2% during the fourth quarter. New York State Common Retirement Fund now owns 1,726,892 shares of the coffee company’s stock worth $157,579,000 after purchasing an additional 21,100 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $112.49 on Thursday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $113.47. The company has a market capitalization of $127.78 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 3.55 and a beta of 1.00. The business has a 50-day moving average of $99.13 and a 200-day moving average of $96.77.

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, 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 in the previous year, the firm posted $0.90 earnings per share. Research analysts expect that Starbucks Co. will post 3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wedbush raised their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. Wells Fargo & Company upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Citigroup raised their price objective on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Barclays upped their target price on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $105.33.

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.