Starbucks Co. (NASDAQ:SBUX) Shares Sold by Sciencast Management LP

Sciencast Management LP cut its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 51.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,928 shares of the coffee company's stock after selling 14,541 shares during the quarter. Sciencast Management LP's holdings in Starbucks were worth $1,271,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Financial Life Planners bought a new stake in Starbucks during the 4th quarter valued at $25,000. Collier Financial purchased a new position in shares of Starbucks during the fourth quarter valued at $27,000. Marshall Investment Management LLC bought a new stake in shares of Starbucks in the fourth quarter valued at about $30,000. Noble Wealth Management PBC purchased a new stake in Starbucks in the fourth quarter worth about $30,000. Finally, Centricity Wealth Management LLC bought a new position in Starbucks during the 4th quarter worth about $36,000. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

Starbucks stock traded up $2.09 during midday trading on Wednesday, hitting $97.97. 9,559,283 shares of the company were exchanged, compared to its average volume of 10,623,140. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The firm has a market capitalization of $111.28 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The business has a fifty 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 posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the business posted $0.90 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Analysts Set New Price Targets

SBUX has been the subject of several research reports. Wedbush upped their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Wells Fargo & Company upped their target price on Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. UBS Group increased their target price on Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Barclays boosted their price target on Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Finally, BMO Capital Markets raised their price objective on Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.