Crew Capital Management Ltd. Trims Stock Position in Starbucks Co. (NASDAQ:SBUX)

Crew Capital Management Ltd. cut its stake in Starbucks Co. (NASDAQ:SBUX) by 60.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,090 shares of the coffee company’s stock after selling 4,767 shares during the period. Crew Capital Management Ltd.’s holdings in Starbucks were worth $282,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Financial Life Planners purchased a new stake in Starbucks in the fourth quarter valued at $25,000. Collier Financial acquired a new position in Starbucks in the fourth quarter valued at $27,000. Marshall Investment Management LLC acquired a new position in Starbucks in the fourth quarter valued at $30,000. Noble Wealth Management PBC acquired a new position in Starbucks in the fourth quarter valued at $30,000. Finally, Centricity Wealth Management LLC acquired a new position in Starbucks in the fourth quarter valued at $36,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent research reports. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Stifel Nicolaus lifted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Redburn Atlantic restated a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Finally, Barclays boosted their price target 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. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $112.06 on Wednesday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The company has a market capitalization of $127.29 billion, a PE ratio of 36.15, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The firm’s 50-day moving average is $103.11 and its two-hundred day moving average is $98.80.

Starbucks (NASDAQ:SBUX) last announced its quarterly 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the firm earned $0.90 EPS. On average, analysts forecast that Starbucks Co. will post 2.99 EPS 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.