Orion Portfolio Solutions LLC Sells 51,842 Shares of Starbucks Co. (NASDAQ:SBUX)

Orion Portfolio Solutions LLC cut its position in Starbucks Co. (NASDAQ:SBUX) by 25.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,463 shares of the coffee company’s stock after selling 51,842 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Starbucks were worth $13,547,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SBUX. Pictet Asset Management Holding SA boosted its position in Starbucks by 0.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,583,296 shares of the coffee company’s stock worth $144,476,000 after buying an additional 11,262 shares during the period. Norges Bank bought a new position in shares of Starbucks during the fourth quarter valued at $1,244,812,000. Caisse Des Depots ET Consignations acquired a new position in shares of Starbucks during the fourth quarter worth $3,073,000. AssuredPartners Investment Advisors LLC bought a new stake in shares of Starbucks in the fourth quarter worth $2,438,000. Finally, NEOS Investment Management LLC increased its holdings in Starbucks by 25.1% in the fourth quarter. NEOS Investment Management LLC now owns 148,056 shares of the coffee company’s stock valued at $13,510,000 after purchasing an additional 29,690 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on SBUX. UBS Group upped their price target 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 target price on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a report on Tuesday, March 18th. Wedbush upped their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Barclays lifted their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” 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, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks Trading Down 1.1 %

Starbucks stock opened at $97.73 on Friday. The firm has a market capitalization of $111.01 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The firm’s fifty day moving average price is $105.75 and its two-hundred day moving average price is $99.50. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the previous year, the business posted $0.90 EPS. On average, research analysts forecast that Starbucks Co. will post 2.99 EPS for the current 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.