Starbucks Co. (NASDAQ:SBUX) Shares Sold by Washington Trust Bank

Washington Trust Bank trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 4.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 170,026 shares of the coffee company’s stock after selling 7,749 shares during the period. Starbucks accounts for 1.5% of Washington Trust Bank’s investment portfolio, making the stock its 23rd biggest holding. Washington Trust Bank’s holdings in Starbucks were worth $15,515,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SBUX. Quest Partners LLC acquired a new position in shares of Starbucks in the 3rd quarter valued at $115,000. Segall Bryant & Hamill LLC purchased a new stake in Starbucks in the third quarter valued at $8,832,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Starbucks in the third quarter valued at $7,675,000. LPL Financial LLC boosted its holdings in Starbucks by 4.6% in the third quarter. LPL Financial LLC now owns 1,948,686 shares of the coffee company’s stock valued at $189,977,000 after purchasing an additional 85,255 shares during the last quarter. Finally, Integrated Investment Consultants LLC boosted its holdings in Starbucks by 14.2% in the third quarter. Integrated Investment Consultants LLC now owns 3,691 shares of the coffee company’s stock valued at $360,000 after purchasing an additional 460 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Stifel Nicolaus upped their price target on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wedbush upped their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. UBS Group increased their target price 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, Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks Trading Down 2.2 %

SBUX stock opened at $97.07 on Friday. The company has a market cap of $110.26 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a 50-day moving average of $105.41 and a two-hundred day moving average of $99.32.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 prior year, the business posted $0.90 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

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.