Envestnet Portfolio Solutions Inc. Cuts Position in Starbucks Co. (NASDAQ:SBUX)

Envestnet Portfolio Solutions Inc. reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 155,277 shares of the coffee company’s stock after selling 3,205 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Starbucks were worth $14,169,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wintrust Investments LLC grew its position in shares of Starbucks by 7.1% during the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock valued at $128,000 after acquiring an additional 94 shares during the period. Kuhn & Co Investment Counsel lifted its position in Starbucks by 2.3% during the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after purchasing an additional 96 shares in the last quarter. Wellington Shields & Co. LLC grew its stake in shares of Starbucks by 8.6% during the 4th quarter. Wellington Shields & Co. LLC now owns 1,265 shares of the coffee company’s stock valued at $115,000 after acquiring an additional 100 shares during the period. Jmac Enterprises LLC increased its holdings in Starbucks by 1.0% in the 4th quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock worth $912,000 after acquiring an additional 103 shares in the last quarter. Finally, Aspire Capital Advisors LLC raised its stake in Starbucks by 0.5% during the 4th quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock worth $2,118,000 after acquiring an additional 104 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SBUX. BMO Capital Markets increased their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Barclays increased their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. UBS Group boosted 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. Stifel Nicolaus lifted their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

Starbucks Price Performance

Shares of SBUX stock opened at $98.11 on Monday. The company has a market cap of $111.44 billion, a price-to-earnings ratio of 31.65, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The stock’s fifty day moving average price is $104.82 and its 200 day moving average price is $99.25. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 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, equities research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

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.