Vestmark Advisory Solutions Inc. Cuts Holdings in Starbucks Co. (NASDAQ:SBUX)

Vestmark Advisory Solutions Inc. lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 17.0% in the fourth quarter, Holdings Channel reports. The firm owned 33,414 shares of the coffee company’s stock after selling 6,858 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Starbucks were worth $3,049,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Life Planners purchased a new stake in shares of Starbucks during the fourth quarter worth about $25,000. Collier Financial purchased a new stake in shares of Starbucks during the fourth quarter worth about $27,000. Marshall Investment Management LLC purchased 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 during the fourth quarter worth about $30,000. Finally, Centricity Wealth Management LLC purchased a new stake in shares of Starbucks during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 5.6 %

Starbucks stock opened at $105.47 on Friday. The firm has a market cap of $119.80 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The company’s 50 day moving average is $103.82 and its two-hundred day moving average is $98.94.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. BMO Capital Markets upped their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Wedbush upped their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note 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 research note on Monday, January 27th. Finally, UBS Group upped their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average price target 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.