Financial Management Network Inc. Sells 329 Shares of Starbucks Co. (NASDAQ:SBUX)

Financial Management Network Inc. decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 10.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,809 shares of the coffee company’s stock after selling 329 shares during the period. Financial Management Network Inc.’s holdings in Starbucks were worth $260,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Global Retirement Partners LLC boosted its stake in shares of Starbucks by 10.0% in the fourth quarter. Global Retirement Partners LLC now owns 51,350 shares of the coffee company’s stock worth $4,686,000 after acquiring an additional 4,667 shares during the period. Bank of Jackson Hole Trust purchased a new stake in shares of Starbucks in the fourth quarter worth about $555,000. Lorne Steinberg Wealth Management Inc. lifted its position in shares of Starbucks by 1.4% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 53,675 shares of the coffee company’s stock worth $4,898,000 after buying an additional 735 shares in the last quarter. Klingman & Associates LLC lifted its position in shares of Starbucks by 5.3% in the fourth quarter. Klingman & Associates LLC now owns 3,441 shares of the coffee company’s stock worth $314,000 after buying an additional 172 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Starbucks by 1.2% in the fourth quarter. New York State Common Retirement Fund now owns 1,726,892 shares of the coffee company’s stock worth $157,579,000 after buying an additional 21,100 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Starbucks Trading Up 0.4 %

Shares of NASDAQ SBUX opened at $113.03 on Wednesday. The stock has a market capitalization of $128.39 billion, a PE ratio of 36.46, a price-to-earnings-growth ratio of 3.55 and a beta of 1.00. The stock’s fifty day simple moving average is $98.85 and its two-hundred day simple moving average is $96.66. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $113.47.

Starbucks (NASDAQ:SBUX) last announced 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 quarter in the previous year, the firm posted $0.90 EPS. On average, equities analysts predict that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SBUX has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Barclays boosted their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. TD Cowen reiterated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. UBS Group upped their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

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.