Starbucks Co. (NASDAQ:SBUX) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 18.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,552 shares of the coffee company’s stock after selling 5,530 shares during the quarter. Independent Advisor Alliance’s holdings in Starbucks were worth $2,240,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Kuhn & Co Investment Counsel lifted its position in shares of Starbucks by 2.3% in the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after buying an additional 96 shares during the last quarter. Jmac Enterprises LLC raised its stake in Starbucks by 1.0% in the 4th quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock valued at $912,000 after acquiring an additional 103 shares during the period. Aspire Capital Advisors LLC lifted its holdings in Starbucks by 0.5% during the 4th quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock valued at $2,118,000 after purchasing an additional 104 shares during the last quarter. Optas LLC boosted its position in Starbucks by 0.6% during the fourth quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock worth $1,525,000 after purchasing an additional 105 shares during the period. Finally, Boomfish Wealth Group LLC increased its holdings in shares of Starbucks by 0.7% in the fourth quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock valued at $1,399,000 after purchasing an additional 108 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SBUX has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. BMO Capital Markets upped their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Wedbush lifted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Finally, Barclays lifted their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Stock Performance

Shares of SBUX opened at $96.04 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The stock has a market capitalization of $109.09 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 3.59 and a beta of 0.99. The stock has a fifty day moving average of $104.71 and a 200-day moving average of $99.20.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS 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 quarter last year, the business earned $0.90 EPS. As a group, equities analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Company 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.