Naviter Wealth LLC Reduces Stake in Starbucks Co. (NASDAQ:SBUX)

Naviter Wealth LLC cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 62.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,158 shares of the coffee company’s stock after selling 13,329 shares during the period. Naviter Wealth LLC’s holdings in Starbucks were worth $744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Financial Life Planners purchased a new stake in Starbucks during the 4th quarter valued at $25,000. Collier Financial bought a new position in Starbucks during the fourth quarter valued at $27,000. Marshall Investment Management LLC purchased a new stake in shares of Starbucks in the fourth quarter valued at $30,000. Noble Wealth Management PBC bought a new stake in shares of Starbucks in the 4th quarter worth about $30,000. Finally, Centricity Wealth Management LLC purchased a new position in shares of Starbucks during the 4th quarter worth about $36,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SBUX. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Wells Fargo & Company increased their price target on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Stifel Nicolaus boosted their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wedbush increased their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, TD Cowen reiterated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, six have issued 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, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $105.75.

Starbucks Price Performance

Shares of SBUX stock opened at $106.48 on Friday. The company has a market cap of $120.95 billion, a P/E ratio of 34.35, a PEG ratio of 3.59 and a beta of 0.99. The stock’s 50-day moving average is $104.10 and its 200 day moving average is $99.08. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 in the prior year, the company posted $0.90 EPS. On average, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

About Starbucks

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.