Fagan Associates Inc. Reduces Stake in Starbucks Co. (NASDAQ:SBUX)

Fagan Associates Inc. lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,527 shares of the coffee company’s stock after selling 369 shares during the quarter. Fagan Associates Inc.’s holdings in Starbucks were worth $1,964,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SBUX. OLD National Bancorp IN grew its stake in Starbucks by 12.7% during the 3rd quarter. OLD National Bancorp IN now owns 15,344 shares of the coffee company’s stock worth $1,496,000 after buying an additional 1,725 shares during the last quarter. Vest Financial LLC purchased a new position in Starbucks during the 3rd quarter worth approximately $720,000. Allspring Global Investments Holdings LLC grew its stake in Starbucks by 40.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 496,951 shares of the coffee company’s stock worth $48,448,000 after buying an additional 143,258 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in Starbucks by 16.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 23,028 shares of the coffee company’s stock worth $2,245,000 after buying an additional 3,330 shares during the last quarter. Finally, Oakworth Capital Inc. grew its stake in shares of Starbucks by 11.0% in the 3rd quarter. Oakworth Capital Inc. now owns 4,330 shares of the coffee company’s stock valued at $422,000 after purchasing an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on SBUX shares. Bank of America lowered their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Citigroup lifted their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays lifted 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. UBS Group lifted their target price on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus lifted their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.33.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by company insiders.

Starbucks Stock Performance

Shares of SBUX stock opened at $113.03 on Wednesday. The stock has a fifty day moving average price of $98.85 and a 200 day moving average price of $96.66. The stock has a market cap of $128.39 billion, a PE ratio of 36.46, a P/E/G ratio of 3.55 and a beta of 1.00. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $113.47.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (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 in the prior year, the firm earned $0.90 earnings per share. As a group, equities research analysts predict that Starbucks Co. will post 3 earnings per share 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.