Verus Capital Partners LLC Sells 446 Shares of Starbucks Co. (NASDAQ:SBUX)

Verus Capital Partners LLC trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,994 shares of the coffee company’s stock after selling 446 shares during the period. Verus Capital Partners LLC’s holdings in Starbucks were worth $729,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SBUX. Fort Sheridan Advisors LLC increased its stake in Starbucks by 24.9% in the fourth quarter. Fort Sheridan Advisors LLC now owns 2,935 shares of the coffee company’s stock valued at $268,000 after acquiring an additional 585 shares during the last quarter. Brueske Advisory Services LLC bought a new position in shares of Starbucks in the 4th quarter valued at $1,569,000. Proficio Capital Partners LLC raised its holdings in shares of Starbucks by 3,455.4% during the 4th quarter. Proficio Capital Partners LLC now owns 246,497 shares of the coffee company’s stock worth $22,493,000 after buying an additional 239,564 shares in the last quarter. Kovack Advisors Inc. lifted its position in shares of Starbucks by 3.3% during the 4th quarter. Kovack Advisors Inc. now owns 10,201 shares of the coffee company’s stock worth $931,000 after buying an additional 328 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Starbucks by 1.7% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 447,200 shares of the coffee company’s stock valued at $40,807,000 after buying an additional 7,600 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Up 1.2 %

Shares of Starbucks stock opened at $115.81 on Friday. The company has a market cap of $131.55 billion, a P/E ratio of 37.36, a PEG ratio of 3.59 and a beta of 1.00. The business has a 50-day moving average price of $102.11 and a two-hundred day moving average price of $98.49. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $116.09.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the company earned $0.90 earnings per share. Equities research analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on SBUX. Wedbush boosted their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. UBS Group upped their price target on shares of 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 boosted their price objective on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $105.75.

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.