Starbucks Co. (NASDAQ:SBUX) Shares Sold by Abbot Financial Management Inc.

Abbot Financial Management Inc. reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,559 shares of the coffee company’s stock after selling 100 shares during the period. Abbot Financial Management Inc.’s holdings in Starbucks were worth $325,000 as of its most recent SEC filing.

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

Starbucks Price Performance

NASDAQ SBUX opened at $112.06 on Wednesday. The business has a 50 day moving average price of $103.11 and a 200 day moving average price of $98.80. The company has a market capitalization of $127.29 billion, a P/E ratio of 36.15, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 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 period last year, the firm posted $0.90 EPS. On average, research analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SBUX. BMO Capital Markets boosted their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. UBS Group increased their price target 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. Wells Fargo & Company lifted their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Finally, TD Cowen reiterated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.75.

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.