Starbucks Co. (NASDAQ:SBUX) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.6% in the fourth quarter, HoldingsChannel reports. The firm owned 40,887 shares of the coffee company’s stock after selling 1,537 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Starbucks were worth $3,731,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new position in shares of Starbucks in the fourth quarter valued at approximately $62,000. Weil Company Inc. grew its holdings in shares of Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after purchasing an additional 8,222 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after purchasing an additional 2,722 shares in the last quarter. West Michigan Advisors LLC acquired a new position in shares of Starbucks in the fourth quarter valued at approximately $265,000. Finally, Wernau Asset Management Inc. purchased a new position in Starbucks in the fourth quarter worth approximately $258,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 1.0 %

Shares of SBUX opened at $106.48 on Friday. The company has a 50-day simple moving average of $104.10 and a 200-day simple moving average of $99.04. The company has a market capitalization of $120.95 billion, a PE ratio of 34.35, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its 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 quarter in the prior year, the company posted $0.90 earnings per share. On average, research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wedbush lifted their price target 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. TD Cowen reiterated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. BMO Capital Markets lifted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. UBS Group lifted their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.