GPM Growth Investors Inc. Sells 774 Shares of Starbucks Co. (NASDAQ:SBUX)

GPM Growth Investors Inc. trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 11.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,066 shares of the coffee company’s stock after selling 774 shares during the period. GPM Growth Investors Inc.’s holdings in Starbucks were worth $554,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Starbucks during the 4th quarter worth $284,283,000. Promus Capital LLC bought a new position in Starbucks during the fourth quarter worth about $111,000. Vision Financial Markets LLC bought a new position in Starbucks during the fourth quarter worth about $302,000. Arizona State Retirement System raised its position in shares of Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after purchasing an additional 2,722 shares during the period. Finally, Proficio Capital Partners LLC raised its position in shares of Starbucks by 10.3% in the fourth quarter. Proficio Capital Partners LLC now owns 7,647 shares of the coffee company’s stock valued at $698,000 after purchasing an additional 714 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

NASDAQ:SBUX opened at $111.69 on Thursday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The business has a 50 day moving average of $103.55 and a 200 day moving average of $98.89. The company has a market capitalization of $126.87 billion, a price-to-earnings ratio of 36.03, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period last year, the business earned $0.90 earnings per share. As a group, sell-side analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent research reports. Stifel Nicolaus lifted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Wells Fargo & Company increased their price objective on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Barclays lifted their target price on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Redburn Atlantic reiterated 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. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $105.75.

Starbucks 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.