Cannell & Spears LLC Has $737,000 Holdings in Starbucks Co. (NASDAQ:SBUX)

Cannell & Spears LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,078 shares of the coffee company’s stock after selling 531 shares during the period. Cannell & Spears LLC’s holdings in Starbucks were worth $737,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Strategic Financial Concepts LLC bought a new position in shares of Starbucks during the 4th quarter worth about $62,000. Arizona State Retirement System grew its holdings in Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after acquiring an additional 2,722 shares during the period. West Michigan Advisors LLC acquired a new position in Starbucks in the fourth quarter valued at about $265,000. Wernau Asset Management Inc. bought a new stake in Starbucks in the fourth quarter valued at approximately $258,000. Finally, Investment Management Corp of Ontario raised its stake in Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after buying an additional 12,300 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX stock opened at $98.09 on Tuesday. The firm has a market capitalization of $111.42 billion, a P/E ratio of 31.64, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The stock has a 50 day moving average price of $105.81 and a 200 day moving average price of $99.54.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating 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 period last year, the firm earned $0.90 EPS. As a group, sell-side analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on SBUX. Barclays boosted their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research note on Tuesday, March 18th. 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. UBS Group increased their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.