Pinnacle Financial Partners Inc Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

Pinnacle Financial Partners Inc reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,635 shares of the coffee company’s stock after selling 896 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Starbucks were worth $977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in SBUX. International Assets Investment Management LLC grew its holdings in shares of Starbucks by 11,217.0% in the third quarter. International Assets Investment Management LLC now owns 752,355 shares of the coffee company’s stock valued at $73,347,000 after purchasing an additional 745,707 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Starbucks by 31.8% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,766 shares of the coffee company’s stock valued at $367,000 after purchasing an additional 909 shares in the last quarter. Mediolanum International Funds Ltd grew its holdings in shares of Starbucks by 93.7% in the third quarter. Mediolanum International Funds Ltd now owns 27,977 shares of the coffee company’s stock valued at $2,719,000 after purchasing an additional 13,534 shares in the last quarter. Osborne Partners Capital Management LLC purchased a new position in shares of Starbucks in the third quarter valued at $206,000. Finally, Arkadios Wealth Advisors grew its holdings in shares of 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 purchasing an additional 1,400 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SBUX shares. Barclays raised their target price on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. BMO Capital Markets lifted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Stifel Nicolaus boosted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective 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 assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $105.33.

Starbucks Price Performance

NASDAQ:SBUX opened at $111.75 on Monday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $114.68. The company has a 50-day moving average of $99.72 and a 200 day moving average of $97.46. The firm has a market cap of $126.94 billion, a PE ratio of 36.05, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period last year, the firm earned $0.90 earnings per share. Sell-side analysts anticipate 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.