Global Trust Asset Management LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 84.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,926 shares of the coffee company’s stock after selling 10,372 shares during the period. Global Trust Asset Management LLC’s holdings in Starbucks were worth $124,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Highwater Wealth Management LLC bought a new stake in shares of Starbucks during the fourth quarter worth $28,000. Polaris Greystone Financial Group LLC bought a new stake in shares of Starbucks during the third quarter worth $107,000. Point72 Hong Kong Ltd bought a new stake in shares of Starbucks during the second quarter worth $115,000. Resources Management Corp CT ADV bought a new stake in shares of Starbucks during the third quarter worth $134,000. Finally, Chicago Partners Investment Group LLC grew its holdings in shares of Starbucks by 52.5% during the second quarter. Chicago Partners Investment Group LLC now owns 2,941 shares of the coffee company’s stock worth $144,000 after purchasing an additional 1,013 shares during the last quarter. Hedge funds and other institutional investors own 76.01% of the company’s stock.
NASDAQ:SBUX opened at $63.73 on Friday. Starbucks Co. has a 1-year low of $47.37 and a 1-year high of $68.98. The company has a current ratio of 2.20, a quick ratio of 1.95 and a debt-to-equity ratio of 7.73. The stock has a market capitalization of $79.25 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 1.79 and a beta of 0.53.
Several brokerages have recently commented on SBUX. BMO Capital Markets decreased their target price on Starbucks to $60.00 and set a “market perform” rating on the stock in a report on Friday. They noted that the move was a valuation call. Goldman Sachs Group cut Starbucks from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $75.00 to $68.00 in a report on Friday. Mizuho set a $75.00 target price on Starbucks and gave the stock a “buy” rating in a report on Friday, December 14th. Royal Bank of Canada increased their target price on Starbucks to $74.00 and gave the stock an “outperform” rating in a report on Friday, December 14th. Finally, KeyCorp set a $70.00 target price on Starbucks and gave the stock a “buy” rating in a report on Friday, December 14th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $66.12.
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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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