Atria Wealth Solutions Inc. Sells 22,727 Shares of Starbucks Co. (NASDAQ:SBUX)

Atria Wealth Solutions Inc. reduced its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 22.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,707 shares of the coffee company's stock after selling 22,727 shares during the period. Atria Wealth Solutions Inc.'s holdings in Starbucks were worth $7,273,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SBUX. Wellington Management Group LLP raised its holdings in Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company's stock valued at $1,476,967,000 after acquiring an additional 7,598,146 shares in the last quarter. FMR LLC raised its holdings in Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company's stock valued at $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in 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 valued at $256,282,000 after acquiring an additional 2,632,087 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of 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 worth $248,153,000 after purchasing an additional 2,329,431 shares during the period. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Starbucks during the third quarter worth $126,574,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of research reports. BMO Capital Markets increased their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Citigroup upped their price objective on shares of Starbucks from $96.00 to $99.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, UBS Group upped their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $105.33.

Starbucks Price Performance

Shares of Starbucks stock traded down $0.37 during midday trading on Friday, hitting $112.97. The company had a trading volume of 4,913,324 shares, compared to its average volume of 9,644,766. The business's 50 day simple moving average is $99.44 and its two-hundred day simple moving average is $96.89. The stock has a market cap of $128.32 billion, a PE ratio of 36.44, a P/E/G ratio of 3.56 and a beta of 1.00. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $114.68.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the company earned $0.90 earnings per share. On average, sell-side analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal 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.