Starbucks Co. (NASDAQ:SBUX) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 334,245 shares of the coffee company's stock after selling 17,113 shares during the quarter. Corebridge Financial Inc.'s holdings in Starbucks were worth $30,500,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Quest Partners LLC acquired a new position in Starbucks in the third quarter valued at approximately $115,000. Meridian Wealth Management LLC acquired a new position in shares of Starbucks in the 3rd quarter valued at $1,095,000. Camden National Bank purchased a new position in shares of Starbucks in the 3rd quarter valued at $216,000. Nicolet Advisory Services LLC acquired a new stake in Starbucks during the 3rd quarter worth $270,000. Finally, Great Valley Advisor Group Inc. lifted its position in Starbucks by 11.0% in the third quarter. Great Valley Advisor Group Inc. now owns 19,002 shares of the coffee company's stock valued at $1,852,000 after acquiring an additional 1,879 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 1.6 %

Shares of NASDAQ SBUX traded up $1.53 during midday trading on Thursday, hitting $99.50. The company had a trading volume of 4,685,138 shares, compared to its average volume of 9,813,866. The firm has a market capitalization of $113.02 billion, a price-to-earnings ratio of 32.10, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The business has a 50-day simple moving average of $105.61 and a two-hundred day simple moving average of $99.47.

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Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly 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 quarter last year, the business posted $0.90 EPS. On average, equities analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SBUX shares. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective on the stock in a report on Tuesday, March 18th. BMO Capital Markets raised 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Wells Fargo & Company raised 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. Finally, Stifel Nicolaus upped their price target on shares of Starbucks from $110.00 to $114.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $106.12.

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.