ProVise Management Group LLC Sells 2,616 Shares of Starbucks Co. (NASDAQ:SBUX)

ProVise Management Group LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,155 shares of the coffee company’s stock after selling 2,616 shares during the quarter. ProVise Management Group LLC’s holdings in Starbucks were worth $4,303,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Wintrust Investments LLC lifted its stake in Starbucks by 7.1% during the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock valued at $128,000 after acquiring an additional 94 shares in the last quarter. Kuhn & Co Investment Counsel lifted its stake in Starbucks by 2.3% during the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after acquiring an additional 96 shares in the last quarter. Wellington Shields & Co. LLC lifted its stake in Starbucks by 8.6% during the 4th quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company’s stock valued at $115,000 after acquiring an additional 100 shares in the last quarter. Mystic Asset Management Inc. raised its stake in shares of Starbucks by 3.9% during the 4th quarter. Mystic Asset Management Inc. now owns 2,665 shares of the coffee company’s stock worth $243,000 after purchasing an additional 101 shares during the period. Finally, Jmac Enterprises LLC raised its stake in shares of Starbucks by 1.0% during the 4th quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock worth $912,000 after purchasing an additional 103 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 0.8 %

SBUX stock opened at $98.28 on Wednesday. The firm has a market capitalization of $111.64 billion, a PE ratio of 31.70, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The stock has a 50-day simple moving average of $105.05 and a two-hundred day simple moving average of $99.30.

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 negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter last year, the business earned $0.90 earnings per share. On average, equities research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent analyst reports. UBS Group lifted their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. BMO Capital Markets lifted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Barclays lifted their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Stifel Nicolaus lifted their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company lifted their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

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.