Centric Wealth Management Sells 529 Shares of Starbucks Co. (NASDAQ:SBUX)

Centric Wealth Management lowered its position in Starbucks Co. (NASDAQ:SBUX) by 16.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,676 shares of the coffee company’s stock after selling 529 shares during the period. Centric Wealth Management’s holdings in Starbucks were worth $244,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SBUX. Financial Life Planners bought a new position in Starbucks in the 4th quarter valued at $25,000. Graney & King LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at $26,000. Collier Financial bought a new position in shares of Starbucks in the fourth quarter valued at about $27,000. Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks in the fourth quarter valued at about $27,000. Finally, Marshall Investment Management LLC acquired a new position in Starbucks during the 4th quarter worth about $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SBUX. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research note on Tuesday, March 18th. Barclays upped their price objective on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. BMO Capital Markets lifted their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Finally, Stifel Nicolaus raised their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Stock Performance

NASDAQ SBUX opened at $98.09 on Tuesday. The business has a 50 day simple moving average of $105.81 and a 200 day simple moving average of $99.54. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The stock has a market cap of $111.42 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 3.59 and a beta of 0.99.

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 quarter in the prior year, the company posted $0.90 earnings per share. On average, analysts predict 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.