Buckingham Capital Management Inc. Sells 3,435 Shares of Starbucks Co. (NASDAQ:SBUX)

Buckingham Capital Management Inc. lessened its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 8.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,686 shares of the coffee company's stock after selling 3,435 shares during the period. Buckingham Capital Management Inc.'s holdings in Starbucks were worth $3,621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SBUX. Financial Life Planners bought a new stake in shares of Starbucks in the 4th quarter worth $25,000. Collier Financial bought a new stake in shares of Starbucks in the 4th quarter worth $27,000. DT Investment Partners LLC raised its stake in shares of Starbucks by 39.4% in 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 in the last quarter. FSA Wealth Management LLC bought a new stake in shares of Starbucks in the 3rd quarter worth $49,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Starbucks in the 4th quarter worth $56,000. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Down 1.4 %

Shares of NASDAQ:SBUX traded down $1.59 on Friday, reaching $111.75. The company had a trading volume of 9,661,850 shares, compared to its average volume of 9,790,830. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $114.68. The stock has a 50-day moving average price of $99.72 and a 200 day moving average price of $97.15. The stock has a market capitalization of $126.94 billion, a P/E ratio of 36.05, a P/E/G ratio of 3.56 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter last year, the business earned $0.90 EPS. On average, sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Redburn Atlantic reissued a "sell" rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Stifel Nicolaus lifted their target price on Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a report on Monday, January 27th. UBS Group lifted their price target on Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. BMO Capital Markets lifted their price target on Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, January 29th. Finally, Wedbush lifted their price target on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $105.33.

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.