RWA Wealth Partners LLC Trims Stake in Starbucks Co. (NASDAQ:SBUX)

RWA Wealth Partners LLC cut its position in shares of Starbucks Co. (NASDAQ:SBUX) by 78.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,575 shares of the coffee company’s stock after selling 125,563 shares during the quarter. RWA Wealth Partners LLC’s holdings in Starbucks were worth $3,155,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC purchased a new position in Starbucks during the fourth quarter valued at $62,000. Arizona State Retirement System raised its position in shares of Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after purchasing an additional 2,722 shares during the last quarter. West Michigan Advisors LLC purchased a new position in shares of Starbucks in the 4th quarter worth about $265,000. Wernau Asset Management Inc. bought a new position in Starbucks in the 4th quarter worth about $258,000. Finally, Investment Management Corp of Ontario grew its position 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 valued at $3,664,000 after purchasing an additional 12,300 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Barclays lifted their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Wedbush increased their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research report on Tuesday, March 18th. Finally, UBS Group raised their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.12.

Starbucks Trading Down 1.1 %

Shares of SBUX opened at $97.73 on Monday. The firm has a fifty day moving average price of $105.75 and a 200-day moving average price of $99.55. The firm has a market capitalization of $111.01 billion, a P/E ratio of 31.53, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the previous year, the business posted $0.90 earnings per share. Analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

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.