Zullo Investment Group Inc. Sells 322 Shares of Starbucks Co. (NASDAQ:SBUX)

Zullo Investment Group Inc. trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 7.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,942 shares of the coffee company’s stock after selling 322 shares during the period. Zullo Investment Group Inc.’s holdings in Starbucks were worth $360,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in Starbucks in the fourth quarter valued at about $25,000. Collier Financial acquired a new stake in shares of Starbucks in the fourth quarter worth $27,000. DT Investment Partners LLC raised its stake in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares during the last quarter. Morton Brown Family Wealth LLC raised its position in Starbucks by 43.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock valued at $46,000 after acquiring an additional 154 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Starbucks in the 3rd quarter valued at $49,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent analyst reports. TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. BMO Capital Markets lifted their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Redburn Atlantic reiterated a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Finally, Citigroup upped their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Trading Down 0.5 %

NASDAQ SBUX opened at $112.49 on Thursday. The business’s 50 day moving average is $99.13 and its two-hundred day moving average is $96.77. The stock has a market capitalization of $127.78 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 3.56 and a beta of 1.00. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $113.47.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the business earned $0.90 earnings per share. Equities analysts forecast that Starbucks Co. will post 3 earnings per share 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.