Bray Capital Advisors Has $2.88 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Bray Capital Advisors trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 11.8% during the fourth quarter, Holdings Channel reports. The firm owned 31,576 shares of the coffee company’s stock after selling 4,236 shares during the period. Bray Capital Advisors’ holdings in Starbucks were worth $2,881,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in Starbucks in the 4th quarter valued at $25,000. Collier Financial acquired a new position in Starbucks during the fourth quarter worth $27,000. DT Investment Partners LLC lifted its holdings in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares during the period. Morton Brown Family Wealth LLC boosted its stake in shares of Starbucks by 43.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock valued at $46,000 after purchasing an additional 154 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in shares of Starbucks during the 3rd quarter worth about $49,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several recent analyst reports. BMO Capital Markets lifted their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Citigroup raised 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. Finally, Stifel Nicolaus upped their price target on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Starbucks Trading Up 0.8 %

NASDAQ:SBUX opened at $113.34 on Friday. The firm has a market capitalization of $128.74 billion, a price-to-earnings ratio of 36.56, a PEG ratio of 3.56 and a beta of 1.00. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $113.50. The business’s 50-day moving average price is $99.44 and its two-hundred day moving average price is $96.89.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating 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 in the prior year, the business posted $0.90 EPS. Sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current 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.