Starbucks Co. (NASDAQ:SBUX) Shares Sold by Mengis Capital Management Inc.

Mengis Capital Management Inc. cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 71.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,070 shares of the coffee company’s stock after selling 24,837 shares during the period. Mengis Capital Management Inc.’s holdings in Starbucks were worth $919,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. CWS Financial Advisors LLC grew its stake in Starbucks by 7.9% in the fourth quarter. CWS Financial Advisors LLC now owns 5,022 shares of the coffee company’s stock worth $458,000 after purchasing an additional 367 shares in the last quarter. Coyle Financial Counsel LLC acquired a new position in Starbucks in the fourth quarter worth about $263,000. Pine Valley Investments Ltd Liability Co grew its stake in Starbucks by 1.2% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 10,678 shares of the coffee company’s stock worth $974,000 after purchasing an additional 123 shares in the last quarter. Impax Asset Management Group plc grew its stake in Starbucks by 253.5% in the fourth quarter. Impax Asset Management Group plc now owns 312,653 shares of the coffee company’s stock worth $28,530,000 after purchasing an additional 224,214 shares in the last quarter. Finally, Rothschild Investment LLC grew its stake in Starbucks by 8.7% in the fourth quarter. Rothschild Investment LLC now owns 31,005 shares of the coffee company’s stock worth $2,829,000 after purchasing an additional 2,491 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citigroup lifted their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wedbush raised their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. TD Cowen reissued a “buy” rating and issued a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. BMO Capital Markets raised their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $113.19 on Tuesday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $114.68. The stock has a market cap of $128.57 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 3.59 and a beta of 1.00. The stock’s 50 day moving average price is $100.13 and its 200 day moving average price is $97.72.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the business earned $0.90 EPS. On average, sell-side analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

About Starbucks

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.