Zullo Investment Group Inc. Decreases Position in Starbucks Co. (NASDAQ:SBUX)

Zullo Investment Group Inc. lowered its position in Starbucks Co. (NASDAQ:SBUX) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,942 shares of the coffee company’s stock after selling 322 shares during the quarter. Zullo Investment Group Inc.’s holdings in Starbucks were worth $360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. Financial Life Planners purchased a new position in Starbucks during the 4th quarter valued at about $25,000. Collier Financial acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $27,000. DT Investment Partners LLC increased its stake in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares in the last quarter. Morton Brown Family Wealth LLC raised its position in shares of Starbucks by 43.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock worth $46,000 after purchasing an additional 154 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in Starbucks in the 3rd quarter valued at approximately $49,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX opened at $112.49 on Thursday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $113.47. The firm has a 50 day moving average price of $99.13 and a 200 day moving average price of $96.77. The company has a market cap of $127.78 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (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 earned $0.90 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 3 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Redburn Atlantic reissued a “sell” rating and issued a $77.00 price target (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. 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 note on Wednesday, January 29th. UBS Group raised 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. Citigroup boosted their price objective on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Three 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 given a strong buy rating to the company’s stock. According to MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

About Starbucks

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.