Investment House LLC Decreases Position in Starbucks Co. (NASDAQ:SBUX)

Investment House LLC reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 5.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,510 shares of the coffee company’s stock after selling 670 shares during the period. Investment House LLC’s holdings in Starbucks were worth $1,050,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC purchased a new stake in shares of Starbucks during the third quarter worth about $115,000. Caprock Group LLC boosted its holdings in Starbucks by 8.6% in the third quarter. Caprock Group LLC now owns 24,066 shares of the coffee company’s stock valued at $2,346,000 after purchasing an additional 1,899 shares during the last quarter. BIP Wealth LLC acquired a new stake in Starbucks during the 3rd quarter valued at approximately $211,000. Banque Cantonale Vaudoise increased its holdings in Starbucks by 79.4% during the 3rd quarter. Banque Cantonale Vaudoise now owns 28,000 shares of the coffee company’s stock worth $2,730,000 after purchasing an additional 12,394 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Starbucks in the 3rd quarter valued at approximately $6,765,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of recent analyst reports. Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their target price on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Stifel Nicolaus upped their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. BMO Capital Markets lifted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Finally, Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research note on Tuesday. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks Stock Performance

NASDAQ:SBUX opened at $99.19 on Thursday. The stock has a market cap of $112.67 billion, a price-to-earnings ratio of 32.00, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The business has a fifty day moving average of $105.18 and a 200-day moving average of $99.30.

Starbucks (NASDAQ:SBUX) last announced its 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period last year, the firm posted $0.90 earnings per share. On average, equities research analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

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.