HighPoint Advisor Group LLC Lowers Stock Position in Starbucks Co. (NASDAQ:SBUX)

HighPoint Advisor Group LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 1.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 40,330 shares of the coffee company’s stock after selling 397 shares during the period. HighPoint Advisor Group LLC’s holdings in Starbucks were worth $3,680,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of SBUX. Strategic Financial Concepts LLC acquired a new position in Starbucks in the 4th quarter worth about $62,000. Arizona State Retirement System raised its stake in shares of Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after buying an additional 2,722 shares during the period. West Michigan Advisors LLC purchased a new position in shares of Starbucks during the 4th quarter valued at approximately $265,000. Wernau Asset Management Inc. acquired a new stake in Starbucks in the 4th quarter valued at $258,000. Finally, Investment Management Corp of Ontario increased its holdings in Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after acquiring an additional 12,300 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 1.1 %

Shares of SBUX opened at $97.73 on Monday. The company’s 50-day moving average price is $105.75 and its 200 day moving average price is $99.55. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46. The firm has a market cap of $111.01 billion, a P/E ratio of 31.53, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued 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 company posted $0.90 EPS. Equities research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. Stifel Nicolaus raised their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. UBS Group boosted their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada restated 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 assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.12.

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.