CIBC Private Wealth Group LLC Has $23.73 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

CIBC Private Wealth Group LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 256,277 shares of the coffee company’s stock after selling 27,751 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Starbucks were worth $23,731,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Financial Life Planners acquired a new position in Starbucks in the 4th quarter worth about $25,000. Graney & King LLC acquired a new position in shares of Starbucks in the fourth quarter valued at approximately $26,000. Collier Financial bought a new position in Starbucks in the 4th quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. acquired a new stake in Starbucks during the 4th quarter worth approximately $27,000. Finally, Marshall Investment Management LLC bought a new stake in Starbucks during the 4th quarter worth approximately $30,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group lifted 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. Barclays upped their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wedbush raised their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a report on Tuesday, March 18th. Finally, BMO Capital Markets raised their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.12.

Starbucks Price Performance

NASDAQ:SBUX opened at $98.09 on Tuesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The business has a fifty day simple moving average of $105.81 and a two-hundred day simple moving average of $99.54. The company has a market capitalization of $111.42 billion, a P/E ratio of 31.64, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 in the previous year, the company posted $0.90 EPS. As a group, analysts anticipate 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.