Mcdonald Partners LLC Reduces Position in Starbucks Co. (NASDAQ:SBUX)

Mcdonald Partners LLC lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 6.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,473 shares of the coffee company’s stock after selling 375 shares during the quarter. Mcdonald Partners LLC’s holdings in Starbucks were worth $499,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Morton Brown Family Wealth LLC grew its stake in Starbucks by 43.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock worth $46,000 after buying an additional 154 shares during the last quarter. Waycross Partners LLC grew its stake in shares of Starbucks by 3.0% in the 4th quarter. Waycross Partners LLC now owns 181,599 shares of the coffee company’s stock valued at $16,571,000 after purchasing an additional 5,306 shares during the last quarter. Cardinal Capital Management grew its stake in shares of Starbucks by 1.8% in the 4th quarter. Cardinal Capital Management now owns 83,631 shares of the coffee company’s stock valued at $7,631,000 after purchasing an additional 1,487 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Starbucks in the 4th quarter valued at approximately $80,000. Finally, Kornitzer Capital Management Inc. KS grew its stake in shares of Starbucks by 5.2% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 27,471 shares of the coffee company’s stock valued at $2,507,000 after purchasing an additional 1,355 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on SBUX. Citigroup lifted their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Wedbush lifted their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. TD Cowen reiterated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Stock Up 0.4 %

NASDAQ SBUX opened at $113.03 on Wednesday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $113.47. The stock has a market cap of $128.39 billion, a price-to-earnings ratio of 36.46, a price-to-earnings-growth ratio of 3.55 and a beta of 1.00. The business has a fifty day moving average of $98.85 and a 200-day moving average of $96.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping 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 in the previous year, the business earned $0.90 earnings per share. As a group, analysts anticipate that Starbucks Co. will post 3 EPS 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.