ProVise Management Group LLC Sells 2,616 Shares of Starbucks Co. (NASDAQ:SBUX)

ProVise Management Group LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,155 shares of the coffee company’s stock after selling 2,616 shares during the period. ProVise Management Group LLC’s holdings in Starbucks were worth $4,303,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. State Street Corp boosted its holdings in shares of Starbucks by 1.0% during the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after buying an additional 437,218 shares during the period. Geode Capital Management LLC raised its stake in Starbucks by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after purchasing an additional 333,004 shares during the last quarter. FMR LLC raised its stake in Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the last quarter. Wellington Management Group LLP raised its stake in Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Starbucks by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company’s stock valued at $1,087,406,000 after purchasing an additional 154,093 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX opened at $98.28 on Wednesday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The firm’s 50 day moving average price is $105.05 and its two-hundred day moving average price is $99.30. The firm has a market cap of $111.64 billion, a P/E ratio of 31.70, 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 earnings per share 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 last year, the company earned $0.90 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SBUX has been the subject of several research analyst reports. BMO Capital Markets upped their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Stifel Nicolaus upped their target price 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. UBS Group upped their target price on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Wells Fargo & Company increased their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Finally, Barclays increased their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Company 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.