RWA Wealth Partners LLC Lowers Position in Starbucks Co. (NASDAQ:SBUX)

RWA Wealth Partners LLC reduced its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 78.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 34,575 shares of the coffee company's stock after selling 125,563 shares during the quarter. RWA Wealth Partners LLC's holdings in Starbucks were worth $3,155,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $62,000. Arizona State Retirement System increased its position in Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock worth $29,881,000 after buying an additional 2,722 shares during the last quarter. West Michigan Advisors LLC bought a new position in shares of Starbucks during the 4th quarter worth $265,000. Wernau Asset Management Inc. bought a new position in shares of Starbucks during the 4th quarter worth $258,000. Finally, Investment Management Corp of Ontario increased its holdings in Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company's stock worth $3,664,000 after acquiring an additional 12,300 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

Starbucks stock traded up $0.14 during trading hours on Tuesday, reaching $98.23. The stock had a trading volume of 5,864,791 shares, compared to its average volume of 11,117,903. The stock has a market cap of $111.58 billion, a PE ratio of 31.69, a PEG ratio of 3.59 and a beta of 0.99. The company has a fifty day simple moving average of $105.81 and a 200-day simple moving average of $99.54. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46.

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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 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 prior year, the firm posted $0.90 EPS. Research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Wells Fargo & Company raised their price objective on shares of Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. Stifel Nicolaus boosted their target price on shares of Starbucks from $110.00 to $114.00 and gave the company a "buy" rating in a report on Monday, January 27th. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price for the company in a report on Tuesday, March 18th. Finally, Barclays upped their price target on Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Starbucks presently has a consensus rating of "Moderate Buy" and an average price target of $106.12.

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.