Haverford Trust Co Sells 2,785 Shares of Starbucks Co. (NASDAQ:SBUX)

Haverford Trust Co cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,303 shares of the coffee company’s stock after selling 2,785 shares during the quarter. Haverford Trust Co’s holdings in Starbucks were worth $3,404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Congress Wealth Management LLC DE grew its position in shares of Starbucks by 16.2% during the 4th quarter. Congress Wealth Management LLC DE now owns 17,230 shares of the coffee company’s stock valued at $1,572,000 after acquiring an additional 2,406 shares during the period. Twin City Private Wealth LLC lifted its stake in Starbucks by 5.5% in the fourth quarter. Twin City Private Wealth LLC now owns 27,214 shares of the coffee company’s stock valued at $2,483,000 after purchasing an additional 1,420 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new position in Starbucks during the fourth quarter valued at $73,000. Vanguard Group Inc. increased its position in Starbucks by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock worth $10,138,442,000 after buying an additional 784,432 shares during the last quarter. Finally, Napatree Capital LLC raised its stake in shares of Starbucks by 12.9% in the fourth quarter. Napatree Capital LLC now owns 4,791 shares of the coffee company’s stock valued at $437,000 after buying an additional 546 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBUX has been the subject of several recent research reports. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a report on Tuesday, March 18th. BMO Capital Markets raised their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Wedbush boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, Barclays increased their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks Trading Down 1.4 %

Shares of NASDAQ:SBUX opened at $95.72 on Tuesday. The stock has a market capitalization of $108.73 billion, a P/E ratio of 30.88, a price-to-earnings-growth 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. The stock’s 50-day moving average price is $105.45 and its 200-day moving average price is $99.44.

Starbucks (NASDAQ:SBUX) last announced 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 last year, the firm posted $0.90 EPS. As a group, research analysts predict that Starbucks Co. will post 2.99 EPS 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.