Pettyjohn Wood & White Inc. Lowers Stock Position in Starbucks Co. (NASDAQ:SBUX)

Pettyjohn Wood & White Inc. cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,209 shares of the coffee company’s stock after selling 425 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in Starbucks were worth $3,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. Pallas Capital Advisors LLC purchased a new stake in Starbucks in the third quarter worth approximately $235,000. Strategic Blueprint LLC bought a new stake in shares of Starbucks in the 3rd quarter worth approximately $209,000. Valmark Advisers Inc. grew its holdings in shares of Starbucks by 2.3% during the 3rd quarter. Valmark Advisers Inc. now owns 10,906 shares of the coffee company’s stock valued at $1,063,000 after purchasing an additional 243 shares during the last quarter. Childress Capital Advisors LLC grew its holdings in shares of Starbucks by 4.8% during the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after purchasing an additional 126 shares during the last quarter. Finally, Mutual Advisors LLC raised its position in Starbucks by 3.3% in the 3rd quarter. Mutual Advisors LLC now owns 46,996 shares of the coffee company’s stock worth $4,566,000 after purchasing an additional 1,515 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 1.3 %

Shares of SBUX stock opened at $114.49 on Friday. The company’s fifty day moving average price is $101.55 and its 200-day moving average price is $98.22. The stock has a market cap of $130.05 billion, a PE ratio of 36.93, a price-to-earnings-growth 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 $115.70.

Starbucks (NASDAQ:SBUX) last posted 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 quarter last year, the company earned $0.90 EPS. On average, sell-side analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SBUX. UBS Group raised their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Barclays raised their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. BMO Capital Markets raised their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Finally, Wedbush lifted their target price on shares of 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 assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.