Harbour Investment Management LLC Lowers Position in Starbucks Co. (NASDAQ:SBUX)

Harbour Investment Management LLC cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,356 shares of the coffee company’s stock after selling 809 shares during the period. Starbucks comprises about 1.9% of Harbour Investment Management LLC’s investment portfolio, making the stock its 13th biggest position. Harbour Investment Management LLC’s holdings in Starbucks were worth $4,321,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Family Firm Inc. lifted its position in Starbucks by 9.2% during the fourth quarter. Family Firm Inc. now owns 3,445 shares of the coffee company’s stock valued at $314,000 after purchasing an additional 290 shares in the last quarter. Harrington Investments INC lifted its position in Starbucks by 1.7% during the fourth quarter. Harrington Investments INC now owns 36,956 shares of the coffee company’s stock valued at $3,372,000 after purchasing an additional 612 shares in the last quarter. Clearstead Trust LLC raised its holdings in Starbucks by 222.4% during the fourth quarter. Clearstead Trust LLC now owns 5,907 shares of the coffee company’s stock valued at $539,000 after acquiring an additional 4,075 shares during the period. Greykasell Wealth Strategies Inc. bought a new stake in Starbucks during the fourth quarter valued at about $505,000. Finally, Picton Mahoney Asset Management bought a new stake in Starbucks during the fourth quarter valued at about $226,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $98.11 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The business has a 50 day simple moving average of $104.82 and a two-hundred day simple moving average of $99.22. The firm has a market capitalization of $111.44 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating 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 last year, the firm earned $0.90 earnings per share. Equities research analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SBUX shares. Wedbush raised their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. BMO Capital Markets raised their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Barclays lifted their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $105.75.

Starbucks Company 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.