Starbucks Co. (NASDAQ:SBUX) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 155,277 shares of the coffee company’s stock after selling 3,205 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Starbucks were worth $14,169,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SBUX. Financial Life Planners purchased a new stake in shares of Starbucks in the fourth quarter valued at about $25,000. Collier Financial purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $27,000. Marshall Investment Management LLC acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $30,000. Noble Wealth Management PBC acquired a new position in Starbucks in the fourth quarter valued at approximately $30,000. Finally, Centricity Wealth Management LLC purchased a new position in Starbucks in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 2.2 %

Shares of Starbucks stock opened at $98.11 on Monday. The company has a fifty day simple moving average of $104.82 and a 200-day simple moving average of $99.25. The stock has a market cap of $111.44 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating 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 firm earned $0.90 earnings per share. On average, analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Stifel Nicolaus lifted their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. UBS Group lifted 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. Barclays boosted their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Wedbush raised their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, BMO Capital Markets boosted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $105.75.

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.