First Horizon Advisors Inc. Lowers Holdings in Starbucks Co. (NASDAQ:SBUX)

First Horizon Advisors Inc. lowered its position in Starbucks Co. (NASDAQ:SBUX) by 10.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 248,714 shares of the coffee company’s stock after selling 29,991 shares during the period. First Horizon Advisors Inc.’s holdings in Starbucks were worth $22,695,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Financial Life Planners acquired a new position in shares of Starbucks in the fourth quarter worth about $25,000. Collier Financial acquired a new position in shares of Starbucks during the 4th quarter worth about $27,000. Centricity Wealth Management LLC acquired a new position in shares of Starbucks during the 4th quarter worth about $36,000. DT Investment Partners LLC raised its position 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 during the last quarter. Finally, 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. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Starbucks stock opened at $111.75 on Friday. The firm has a 50 day simple moving average of $99.72 and a 200-day simple moving average of $97.30. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $114.68. The stock has a market cap of $126.94 billion, a price-to-earnings ratio of 36.05, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating 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 in the previous year, the business posted $0.90 earnings per share. Equities analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SBUX. BMO Capital Markets upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Wedbush upped their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. TD Cowen restated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Finally, Barclays upped their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $105.33.

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.