Peloton Wealth Strategists Sells 5,598 Shares of Starbucks Co. (NASDAQ:SBUX)

Peloton Wealth Strategists trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 19.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,852 shares of the coffee company’s stock after selling 5,598 shares during the quarter. Peloton Wealth Strategists’ holdings in Starbucks were worth $2,176,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SBUX. Pallas Capital Advisors LLC bought a new stake in shares of Starbucks in the third quarter worth about $235,000. Strategic Blueprint LLC bought a new stake in shares of Starbucks in the third quarter worth about $209,000. Valmark Advisers Inc. grew its position in Starbucks by 2.3% in the third quarter. Valmark Advisers Inc. now owns 10,906 shares of the coffee company’s stock worth $1,063,000 after acquiring an additional 243 shares in the last quarter. Childress Capital Advisors LLC grew its position in Starbucks by 4.8% in the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after acquiring an additional 126 shares in the last quarter. Finally, Mutual Advisors LLC grew its position in Starbucks by 3.3% in the third quarter. Mutual Advisors LLC now owns 46,996 shares of the coffee company’s stock worth $4,566,000 after acquiring an additional 1,515 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on SBUX shares. UBS Group lifted their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Citigroup lifted their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Wedbush lifted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.75.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $114.49 on Friday. The firm has a market capitalization of $130.05 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 3.59 and a beta of 1.00. The stock has a 50 day moving average price of $101.55 and a 200 day moving average price of $98.22. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $115.70.

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, 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 business earned $0.90 earnings per share. Analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

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.