Meridian Investment Counsel Inc. Sells 184 Shares of Starbucks Co. (NASDAQ:SBUX)

Meridian Investment Counsel Inc. decreased its position in Starbucks Co. (NASDAQ:SBUX) by 3.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,778 shares of the coffee company’s stock after selling 184 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Starbucks were worth $436,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Financial Life Planners bought a new stake in shares of Starbucks in the 4th quarter worth approximately $25,000. Graney & King LLC bought a new position in Starbucks in the 4th quarter worth $26,000. Collier Financial purchased a new stake in shares of Starbucks in the 4th quarter worth about $27,000. Runnymede Capital Advisors Inc. bought a new stake in shares of Starbucks during the 4th quarter valued at about $27,000. Finally, Marshall Investment Management LLC purchased a new position in shares of Starbucks during the fourth quarter valued at about $30,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on SBUX shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Wells Fargo & Company increased their price objective on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. BMO Capital Markets upped their target price 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. Finally, Stifel Nicolaus lifted 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. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Stock Down 1.1 %

Shares of Starbucks stock opened at $97.73 on Monday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The business has a 50-day moving average price of $105.75 and a 200-day moving average price of $99.55. The firm has a market cap of $111.01 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released 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 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 earnings per share. On average, equities analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

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.