Parker Financial LLC Sells 709 Shares of Starbucks Co. (NASDAQ:SBUX)

Parker Financial LLC trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 12.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,944 shares of the coffee company’s stock after selling 709 shares during the period. Starbucks accounts for approximately 0.2% of Parker Financial LLC’s portfolio, making the stock its 28th largest holding. Parker Financial LLC’s holdings in Starbucks were worth $451,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after buying an additional 7,598,146 shares in the last quarter. FMR LLC raised its position in shares of Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Starbucks by 1,491.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after buying an additional 2,632,087 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Starbucks by 1,078.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after purchasing an additional 2,329,431 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Starbucks during the third quarter valued at about $126,574,000. 72.29% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.09% of the company’s stock.

Starbucks Trading Up 0.4 %

NASDAQ:SBUX opened at $113.03 on Wednesday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $113.47. The company has a market cap of $128.39 billion, a PE ratio of 36.46, a price-to-earnings-growth ratio of 3.55 and a beta of 1.00. The company has a 50 day simple moving average of $98.85 and a two-hundred day simple moving average of $96.66.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates 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 firm posted $0.90 earnings per share. Research analysts forecast that Starbucks Co. will post 3 earnings per share for the current year.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent research reports. TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Wedbush raised their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. UBS Group raised their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. BMO Capital Markets raised their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Barclays raised their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks 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.