Starbucks Co. (NASDAQ:SBUX) Shares Sold by Cottage Street Advisors LLC

Cottage Street Advisors LLC reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 8.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,091 shares of the coffee company’s stock after selling 786 shares during the period. Cottage Street Advisors LLC’s holdings in Starbucks were worth $738,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Financial Life Planners acquired a new position in shares of Starbucks in the 4th quarter valued at $25,000. Graney & King LLC purchased a new position in shares of Starbucks in the 4th quarter worth $26,000. Collier Financial acquired a new position in Starbucks in the fourth quarter valued at $27,000. Runnymede Capital Advisors Inc. acquired a new position in Starbucks in the fourth quarter valued at $27,000. Finally, Marshall Investment Management LLC purchased a new stake in Starbucks during the fourth quarter valued at about $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Up 0.2 %

Shares of NASDAQ:SBUX opened at $95.88 on Wednesday. The firm has a market capitalization of $108.91 billion, a P/E ratio of 30.93, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The firm has a fifty day moving average of $105.51 and a two-hundred day moving average of $99.48. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly 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 in the previous year, the company posted $0.90 earnings per share. Equities research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on SBUX. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Tuesday, March 18th. BMO Capital Markets lifted their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Wedbush increased their price objective 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. Royal Bank of Canada restated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Finally, Stifel Nicolaus upped their price target on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $106.12.

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.