Meridian Investment Counsel Inc. Has $436,000 Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Meridian Investment Counsel Inc. reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,778 shares of the coffee company’s stock after selling 184 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Starbucks were worth $436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Financial Life Planners acquired a new position in shares of Starbucks during the fourth quarter worth approximately $25,000. Graney & King LLC bought a new position in shares of Starbucks in the fourth quarter valued at $26,000. Collier Financial acquired a new position in shares of Starbucks during the fourth quarter valued at about $27,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks in the 4th quarter worth about $27,000. Finally, Marshall Investment Management LLC acquired a new position in Starbucks during the 4th quarter valued at about $30,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 1.1 %

Shares of NASDAQ SBUX opened at $97.73 on Monday. The business has a 50-day moving average of $105.75 and a 200-day moving average of $99.55. The firm has a market capitalization of $111.01 billion, a price-to-earnings ratio of 31.53, 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.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping 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 previous year, the firm posted $0.90 earnings per share. On average, analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SBUX shares. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Stifel Nicolaus upped their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Barclays boosted their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. BMO Capital Markets increased their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price objective on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.