Optimum Investment Advisors Trims Holdings in Starbucks Co. (NASDAQ:SBUX)

Optimum Investment Advisors reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,969 shares of the coffee company’s stock after selling 150 shares during the period. Optimum Investment Advisors’ holdings in Starbucks were worth $362,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new position in Starbucks in the 4th quarter valued at about $62,000. Arizona State Retirement System increased 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 during the period. West Michigan Advisors LLC purchased a new stake in shares of Starbucks during the fourth quarter worth approximately $265,000. Wernau Asset Management Inc. acquired a new stake in shares of Starbucks during the fourth quarter worth $258,000. Finally, Investment Management Corp of Ontario grew its position in Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after buying an additional 12,300 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX stock opened at $97.07 on Friday. The company’s 50 day simple moving average is $105.41 and its 200-day simple moving average is $99.36. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a market capitalization of $110.26 billion, a PE ratio of 31.31, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the company posted $0.90 EPS. As a group, sell-side analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on SBUX shares. Barclays upped their price objective on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Wells Fargo & Company lifted their price objective on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Wedbush increased their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, BMO Capital Markets upped their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average 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.