Cypress Capital Group Sells 3,386 Shares of Starbucks Co. (NASDAQ:SBUX)

Cypress Capital Group lowered its position in Starbucks Co. (NASDAQ:SBUX) by 12.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,454 shares of the coffee company’s stock after selling 3,386 shares during the period. Cypress Capital Group’s holdings in Starbucks were worth $2,231,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SBUX. Kuhn & Co Investment Counsel raised its position in Starbucks by 2.3% during the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after purchasing an additional 96 shares during the period. Jmac Enterprises LLC raised its position in Starbucks by 1.0% during the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock valued at $912,000 after purchasing an additional 103 shares during the period. Aspire Capital Advisors LLC raised its position in Starbucks by 0.5% during the fourth quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock valued at $2,118,000 after purchasing an additional 104 shares during the period. Optas LLC raised its position in Starbucks by 0.6% during the fourth quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock valued at $1,525,000 after purchasing an additional 105 shares during the period. Finally, Boomfish Wealth Group LLC raised its position in Starbucks by 0.7% during the fourth quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock valued at $1,399,000 after purchasing an additional 108 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 2.9 %

Shares of NASDAQ:SBUX opened at $112.06 on Wednesday. The stock has a market cap of $127.29 billion, a P/E ratio of 36.15, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The business’s 50 day moving average is $103.11 and its 200 day moving average is $98.80. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating 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 in the previous year, the firm posted $0.90 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SBUX. Barclays upped their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. UBS Group upped their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company increased their price target on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. BMO Capital Markets increased their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Wedbush increased their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.75.

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.