HUB Investment Partners LLC Reduces Position in Starbucks Co. (NASDAQ:SBUX)

HUB Investment Partners LLC cut its position in shares of Starbucks Co. (NASDAQ:SBUX) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,445 shares of the coffee company’s stock after selling 1,068 shares during the period. HUB Investment Partners LLC’s holdings in Starbucks were worth $1,501,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SBUX. Strategic Financial Concepts LLC purchased a new stake in Starbucks in the 4th quarter valued at about $62,000. Arizona State Retirement System lifted its position in shares of Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after purchasing an additional 2,722 shares during the period. West Michigan Advisors LLC bought a new position in shares of Starbucks during the 4th quarter worth approximately $265,000. Wernau Asset Management Inc. bought a new position in shares of Starbucks during the 4th quarter worth approximately $258,000. Finally, Investment Management Corp of Ontario raised its stake in shares of Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after acquiring an additional 12,300 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 0.1 %

SBUX opened at $99.28 on Friday. The company has a market cap of $112.77 billion, a price-to-earnings ratio of 32.03, a PEG 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. The firm’s fifty day simple moving average is $105.31 and its two-hundred day simple moving average is $99.30.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) 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 business earned $0.90 EPS. On average, research analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on SBUX shares. Stifel Nicolaus boosted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. UBS Group boosted their price objective 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. Wells Fargo & Company upped their price target on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Finally, BMO Capital Markets upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks Company 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.