Valley Wealth Managers Inc. Sells 6,089 Shares of Starbucks Co. (NASDAQ:SBUX)

Valley Wealth Managers Inc. lowered its position in Starbucks Co. (NASDAQ:SBUX) by 11.8% during the 4th quarter, HoldingsChannel reports. The fund owned 45,578 shares of the coffee company’s stock after selling 6,089 shares during the period. Valley Wealth Managers Inc.’s holdings in Starbucks were worth $4,159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Life Planners purchased a new stake in shares of Starbucks in the fourth quarter valued at $25,000. Collier Financial purchased a new stake in shares of Starbucks in the fourth quarter valued at $27,000. DT Investment Partners LLC raised its stake in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares during the period. FSA Wealth Management LLC purchased a new stake in shares of Starbucks in the third quarter valued at $49,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Starbucks in the fourth quarter valued at $56,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SBUX shares. Bank of America reduced their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Stifel Nicolaus raised their price target 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. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. BMO Capital Markets raised their price target 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. Finally, Wedbush raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Stock Performance

NASDAQ:SBUX opened at $112.55 on Tuesday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $113.47. The stock has a market capitalization of $127.85 billion, a P/E ratio of 36.31, a P/E/G ratio of 3.52 and a beta of 1.00. The company’s 50-day simple moving average is $98.28 and its 200-day simple moving average is $96.14.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the firm posted $0.90 earnings per share. On average, research analysts forecast that Starbucks Co. will post 3 EPS for the current year.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by company insiders.

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.