Starbucks Co. (NASDAQ:SBUX) Shares Sold by Paces Ferry Wealth Advisors LLC

Paces Ferry Wealth Advisors LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 7.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,263 shares of the coffee company’s stock after selling 332 shares during the period. Paces Ferry Wealth Advisors LLC’s holdings in Starbucks were worth $389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Financial Life Planners acquired a new position in shares of Starbucks in the fourth quarter valued at about $25,000. Collier Financial purchased a new stake in Starbucks in the fourth quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks in the 4th quarter worth approximately $27,000. Marshall Investment Management LLC purchased a new position in Starbucks during the 4th quarter worth approximately $30,000. Finally, Noble Wealth Management PBC acquired a new stake in Starbucks during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX stock opened at $97.07 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The stock’s fifty day moving average is $105.41 and its two-hundred day moving average is $99.36. The firm has a market capitalization of $110.26 billion, a P/E ratio of 31.31, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the company earned $0.90 EPS. On average, equities analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Barclays lifted their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Tuesday, March 18th. BMO Capital Markets lifted their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, UBS Group upped their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

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.