Starbucks Co. (NASDAQ:SBUX) Shares Sold by HS Management Partners LLC

HS Management Partners LLC reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 29.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 573,694 shares of the coffee company’s stock after selling 243,558 shares during the quarter. Starbucks accounts for 3.6% of HS Management Partners LLC’s investment portfolio, making the stock its 16th largest position. HS Management Partners LLC owned 0.05% of Starbucks worth $52,350,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Financial Life Planners acquired a new stake in Starbucks during the 4th quarter worth approximately $25,000. Collier Financial acquired a new stake in Starbucks during the 4th quarter worth approximately $27,000. Marshall Investment Management LLC acquired a new stake in Starbucks during the 4th quarter worth approximately $30,000. Noble Wealth Management PBC acquired a new stake in Starbucks during the 4th quarter worth approximately $30,000. Finally, Centricity Wealth Management LLC acquired a new stake in Starbucks during the 4th quarter worth approximately $36,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

NASDAQ SBUX opened at $111.69 on Thursday. The firm’s fifty day moving average price is $103.55 and its 200 day moving average price is $98.89. The company has a market capitalization of $126.87 billion, a price-to-earnings ratio of 36.03, a price-to-earnings-growth 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 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the prior year, the company posted $0.90 EPS. As a group, sell-side analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SBUX shares. Wedbush increased their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Barclays increased their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” 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 report on Wednesday, January 29th. Wells Fargo & Company raised their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Finally, TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $105.75.

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.