PNC Financial Services Group Inc. Reduces Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

PNC Financial Services Group Inc. cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 951,757 shares of the coffee company’s stock after selling 3,867 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Starbucks were worth $86,848,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SBUX. Financial Life Planners acquired a new stake in Starbucks in the 4th quarter worth approximately $25,000. Collier Financial acquired a new stake in shares of Starbucks during the fourth quarter worth $27,000. Marshall Investment Management LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at $30,000. Noble Wealth Management PBC purchased a new stake in shares of Starbucks during the fourth quarter valued at $30,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of Starbucks in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 1.0 %

Shares of SBUX opened at $106.48 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The company has a market cap of $120.95 billion, a P/E ratio of 34.35, a PEG ratio of 3.59 and a beta of 0.99. The firm’s 50 day moving average price is $104.10 and its 200 day moving average price is $99.08.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 period in the previous year, the company earned $0.90 EPS. Research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on SBUX shares. UBS Group upped their target price on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Stifel Nicolaus upped their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Barclays boosted their target price 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. TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.