Bedel Financial Consulting Inc. Reduces Position in Starbucks Co. (NASDAQ:SBUX)

Bedel Financial Consulting Inc. trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,214 shares of the coffee company’s stock after selling 366 shares during the quarter. Bedel Financial Consulting Inc.’s holdings in Starbucks were worth $567,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Strategic Financial Concepts LLC bought a new stake in shares of Starbucks in the fourth quarter worth $62,000. Weil Company Inc. increased its holdings in Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after buying an additional 8,222 shares during the last quarter. West Michigan Advisors LLC bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $265,000. Maia Wealth LLC increased its holdings in shares of Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after acquiring an additional 7,596 shares during the last quarter. Finally, Investment Management Corp of Ontario increased its holdings in shares of Starbucks by 48.6% in 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 acquiring an additional 12,300 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of Starbucks stock opened at $115.41 on Tuesday. The firm has a market cap of $131.09 billion, a price-to-earnings ratio of 37.23, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The stock has a 50-day simple moving average of $102.67 and a 200-day simple moving average of $98.68.

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 last year, the firm posted $0.90 earnings per share. As a group, equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on SBUX. BMO Capital Markets boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. UBS Group upped their price target 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. 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 report on Tuesday, February 25th. Finally, Wedbush increased their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. 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 issued a strong buy rating to the company. According to MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average price target of $105.75.

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.