Valley Wealth Managers Inc. Sells 6,089 Shares of Starbucks Co. (NASDAQ:SBUX)

Valley Wealth Managers Inc. decreased its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,578 shares of the coffee company's stock after selling 6,089 shares during the quarter. Valley Wealth Managers Inc.'s holdings in Starbucks were worth $4,159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC bought a new position in Starbucks in the fourth quarter worth $62,000. Dakota Wealth Management raised its holdings in Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company's stock worth $5,439,000 after purchasing an additional 300 shares in the last quarter. Weil Company Inc. raised its holdings in Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company's stock worth $3,371,000 after purchasing an additional 8,222 shares in the last quarter. Maia Wealth LLC increased its holdings in shares of Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company's stock valued at $1,805,000 after acquiring an additional 7,596 shares in the last quarter. Finally, Investment Management Corp of Ontario increased its holdings in shares of Starbucks by 48.6% during the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company's stock valued at $3,664,000 after acquiring an additional 12,300 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Analyst Ratings Changes

SBUX has been the subject of several analyst reports. Barclays raised their price target on Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. TD Cowen restated a "buy" rating and set a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Wedbush raised 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. Royal Bank of Canada restated an "outperform" rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Finally, Wells Fargo & Company raised their price target on Starbucks from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Starbucks currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.33.

Starbucks Trading Down 1.4 %

SBUX traded down $1.59 on Friday, hitting $111.75. 9,661,850 shares of the company's stock traded hands, compared to its average volume of 9,790,830. The company's 50 day simple moving average is $99.72 and its 200-day simple moving average is $97.15. The firm has a market cap of $126.94 billion, a price-to-earnings ratio of 36.05, a P/E/G ratio of 3.56 and a beta of 1.00. Starbucks Co. has a one year low of $71.55 and a one 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 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 in the prior year, the firm posted $0.90 EPS. As a group, equities analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

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.