Allworth Financial LP Buys 2,223 Shares of Starbucks Co. (NASDAQ:SBUX)

Allworth Financial LP grew its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 181,196 shares of the coffee company's stock after purchasing an additional 2,223 shares during the period. Allworth Financial LP's holdings in Starbucks were worth $17,708,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Life Planners acquired a new position in shares of Starbucks during the 4th quarter worth approximately $25,000. Collier Financial purchased a new position in shares of Starbucks during the 4th quarter worth $27,000. DT Investment Partners LLC increased its holdings in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company's stock worth $42,000 after buying an additional 121 shares during the last quarter. FSA Wealth Management LLC purchased a new position in Starbucks in the third quarter worth approximately $49,000. Finally, Friedenthal Financial acquired a new stake in shares of Starbucks during the 3rd quarter worth about $50,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on SBUX. TD Cowen reiterated a "buy" rating and issued a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. 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. Royal Bank of Canada reissued an "outperform" rating and set a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. BMO Capital Markets lifted their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Three investment analysts have rated the stock with a sell rating, six have assigned 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, Starbucks currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.33.

Starbucks Stock Performance

Shares of Starbucks stock traded down $0.54 on Wednesday, reaching $112.49. The stock had a trading volume of 8,265,260 shares, compared to its average volume of 9,902,459. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $113.47. The business's 50-day moving average price is $98.85 and its two-hundred day moving average price is $96.66. The stock has a market cap of $127.78 billion, a P/E ratio of 36.29, a price-to-earnings-growth ratio of 3.55 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data 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 previous year, the firm earned $0.90 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company's stock in a transaction on 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 of the company's stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is owned by company insiders.

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.