Advisors Asset Management Inc. Sells 38,972 Shares of Starbucks Co. (NASDAQ:SBUX)

Advisors Asset Management Inc. reduced its position in Starbucks Co. (NASDAQ:SBUX) by 24.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 121,492 shares of the coffee company’s stock after selling 38,972 shares during the period. Advisors Asset Management Inc.’s holdings in Starbucks were worth $11,086,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SBUX. Financial Life Planners bought a new stake in shares of Starbucks in the 4th quarter valued at about $25,000. Collier Financial bought a new stake in shares of Starbucks in the 4th quarter valued at about $27,000. Marshall Investment Management LLC acquired a new stake in Starbucks in the 4th quarter worth approximately $30,000. Noble Wealth Management PBC acquired a new stake in Starbucks in the 4th quarter worth approximately $30,000. Finally, Centricity Wealth Management LLC acquired a new stake in Starbucks in the 4th quarter worth approximately $36,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $99.08 on Tuesday. The firm has a market cap of $112.54 billion, a PE ratio of 31.96, a PEG ratio of 3.59 and a beta of 0.99. The firm has a fifty day moving average of $104.94 and a 200 day moving average of $99.28. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 previous year, the firm posted $0.90 EPS. On average, equities analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on SBUX shares. Stifel Nicolaus lifted their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. UBS Group lifted their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. BMO Capital Markets lifted their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Barclays lifted their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their target price on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.75.

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.