Birinyi Associates Inc. Decreases Stake in Starbucks Co. (NASDAQ:SBUX)

Birinyi Associates Inc. trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,545 shares of the coffee company’s stock after selling 255 shares during the quarter. Birinyi Associates Inc.’s holdings in Starbucks were worth $597,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SBUX. Los Angeles Capital Management LLC raised its stake in Starbucks by 51.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 507,206 shares of the coffee company’s stock valued at $46,283,000 after buying an additional 173,213 shares in the last quarter. FourThought Financial Partners LLC acquired a new stake in shares of Starbucks during the 4th quarter worth about $448,000. Trifecta Capital Advisors LLC lifted its stake in Starbucks by 1.0% during the fourth quarter. Trifecta Capital Advisors LLC now owns 29,429 shares of the coffee company’s stock worth $2,685,000 after purchasing an additional 290 shares during the last quarter. CWS Financial Advisors LLC boosted its holdings in Starbucks by 7.9% in the fourth quarter. CWS Financial Advisors LLC now owns 5,022 shares of the coffee company’s stock valued at $458,000 after purchasing an additional 367 shares in the last quarter. Finally, Coyle Financial Counsel LLC purchased a new position in Starbucks in the fourth quarter valued at approximately $263,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 1.2 %

NASDAQ SBUX opened at $114.59 on Wednesday. The business’s 50 day moving average is $100.58 and its two-hundred day moving average is $98.00. The stock has a market capitalization of $130.16 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $115.24.

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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the business earned $0.90 earnings per share. Equities analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on SBUX. Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Stifel Nicolaus boosted their price target on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Citigroup raised their price objective on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. BMO Capital Markets boosted their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Wedbush raised their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.75.

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.