Avantax Advisory Services Inc. Trims Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Avantax Advisory Services Inc. trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 80,135 shares of the coffee company’s stock after selling 195 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Starbucks were worth $7,312,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Financial Life Planners purchased a new position in Starbucks in the 4th quarter valued at approximately $25,000. Collier Financial purchased a new position in Starbucks in the 4th quarter valued at approximately $27,000. Marshall Investment Management LLC purchased a new position in Starbucks in the 4th quarter valued at approximately $30,000. Noble Wealth Management PBC purchased a new position in Starbucks in the 4th quarter valued at approximately $30,000. Finally, Centricity Wealth Management LLC purchased a new position in shares of Starbucks during the 4th quarter valued at $36,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Stifel Nicolaus boosted 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. Barclays boosted their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. UBS Group boosted their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Finally, Wedbush boosted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have assigned 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Stock Down 2.7 %

Starbucks stock opened at $96.04 on Friday. The company has a market capitalization of $109.09 billion, a PE ratio of 30.98, a P/E/G ratio of 3.59 and a beta of 0.99. The firm has a fifty day simple moving average of $104.71 and a two-hundred day simple moving average of $99.20. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS 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 in the prior year, the business earned $0.90 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

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.