Parker Financial LLC Sells 709 Shares of Starbucks Co. (NASDAQ:SBUX)

Parker Financial LLC lowered its position in Starbucks Co. (NASDAQ:SBUX) by 12.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,944 shares of the coffee company’s stock after selling 709 shares during the quarter. Starbucks makes up about 0.2% of Parker Financial LLC’s investment portfolio, making the stock its 28th largest position. Parker Financial LLC’s holdings in Starbucks were worth $451,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SBUX. Financial Life Planners purchased a new stake in Starbucks in the 4th quarter worth about $25,000. Collier Financial purchased a new stake in Starbucks in the 4th quarter worth about $27,000. DT Investment Partners LLC raised its position in Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the period. Morton Brown Family Wealth LLC raised its position in Starbucks by 43.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock worth $46,000 after purchasing an additional 154 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in Starbucks in the 3rd quarter worth about $49,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent analyst reports. UBS Group increased their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays increased their price objective on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. 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. BMO Capital Markets upped their target price 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. Finally, Stifel Nicolaus upped their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Trading Up 0.4 %

NASDAQ SBUX opened at $113.03 on Wednesday. The company has a fifty day simple moving average of $98.85 and a two-hundred day simple moving average of $96.66. The stock has a market cap of $128.39 billion, a P/E ratio of 36.46, a P/E/G ratio of 3.55 and a beta of 1.00. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $113.47.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results 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 previous year, the company earned $0.90 earnings per share. As a group, sell-side analysts forecast that Starbucks Co. will post 3 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

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.