Cape ANN Savings Bank Reduces Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Cape ANN Savings Bank trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 39.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,547 shares of the coffee company’s stock after selling 1,693 shares during the period. Cape ANN Savings Bank’s holdings in Starbucks were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Financial Life Planners purchased a new stake in Starbucks during the 4th quarter worth approximately $25,000. Collier Financial purchased a new position in Starbucks during the fourth quarter worth about $27,000. Marshall Investment Management LLC purchased a new stake in shares of Starbucks during the 4th quarter valued at approximately $30,000. Centricity Wealth Management LLC purchased a new stake in Starbucks in the fourth quarter valued at $36,000. Finally, FSA Wealth Management LLC acquired a new position in Starbucks in the third quarter valued at about $49,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of SBUX stock opened at $111.75 on Monday. The stock has a market cap of $126.94 billion, a PE ratio of 36.05, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $114.68. The stock has a fifty day moving average price of $99.72 and a 200 day moving average price of $97.46.

Starbucks (NASDAQ:SBUX) last issued 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 quarter in the prior year, the company posted $0.90 earnings per share. As a group, equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Redburn Atlantic restated a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Citigroup boosted their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. BMO Capital Markets increased their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” 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 company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

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.