Synergy Financial Group LTD Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

Synergy Financial Group LTD lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,988 shares of the coffee company’s stock after selling 444 shares during the period. Synergy Financial Group LTD’s holdings in Starbucks were worth $820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Starbucks by 31.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 3,766 shares of the coffee company’s stock worth $367,000 after acquiring an additional 909 shares during the last quarter. Arkadios Wealth Advisors raised its stake in Starbucks by 15.3% in the third quarter. Arkadios Wealth Advisors now owns 10,555 shares of the coffee company’s stock valued at $1,029,000 after buying an additional 1,400 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Starbucks by 6.9% during the third quarter. State of Alaska Department of Revenue now owns 131,659 shares of the coffee company’s stock worth $12,835,000 after purchasing an additional 8,450 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of Starbucks by 4.9% in the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 29,550 shares of the coffee company’s stock valued at $2,881,000 after buying an additional 1,372 shares in the last quarter. Finally, Hibernia Wealth Partners LLC acquired a new stake in shares of Starbucks during the third quarter worth about $379,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Barclays increased their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Wedbush increased their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. 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. Finally, Wells Fargo & Company upped their target price on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Trading Up 1.3 %

Shares of SBUX opened at $113.19 on Tuesday. The stock has a 50 day simple moving average of $100.13 and a 200-day simple moving average of $97.72. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $114.68. The stock has a market cap of $128.57 billion, a PE ratio of 36.51, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the firm posted $0.90 EPS. On average, sell-side analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks 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.