PFG Advisors Sells 837 Shares of Starbucks Co. (NASDAQ:SBUX)

PFG Advisors lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 23.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,695 shares of the coffee company’s stock after selling 837 shares during the quarter. PFG Advisors’ holdings in Starbucks were worth $246,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SBUX. OneDigital Investment Advisors LLC boosted its holdings in Starbucks by 18.3% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 49,403 shares of the coffee company’s stock valued at $4,816,000 after acquiring an additional 7,636 shares during the period. CIBC Asset Management Inc boosted its holdings in Starbucks by 6.1% during the 3rd quarter. CIBC Asset Management Inc now owns 382,334 shares of the coffee company’s stock valued at $37,274,000 after acquiring an additional 21,851 shares during the period. Sheaff Brock Investment Advisors LLC boosted its holdings in Starbucks by 15.7% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 10,304 shares of the coffee company’s stock valued at $1,004,000 after acquiring an additional 1,400 shares during the period. Empowered Funds LLC boosted its holdings in Starbucks by 14.2% during the 3rd quarter. Empowered Funds LLC now owns 39,941 shares of the coffee company’s stock valued at $3,894,000 after acquiring an additional 4,966 shares during the period. Finally, Archer Investment Corp boosted its holdings in Starbucks by 10.2% during the 3rd quarter. Archer Investment Corp now owns 2,301 shares of the coffee company’s stock valued at $224,000 after acquiring an additional 213 shares during the period. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SBUX. Barclays boosted their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Stifel Nicolaus upped their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. UBS Group upped their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.75.

Starbucks Stock Performance

Shares of SBUX stock opened at $98.11 on Friday. The stock’s 50-day simple moving average is $104.82 and its 200-day simple moving average is $99.22. The firm has a market capitalization of $111.44 billion, a PE ratio of 31.65, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week 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. Sell-side analysts forecast 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.