Starbucks Corporation (NASDAQ:SBUX), the world's leading coffee brand, has seen significant activity and changes among its institutional investors as of late, illustrating fluctuated investor confidence. Atria Wealth Solutions Inc. reduced its holdings by 22.2% during the last quarter, concluding with 79,707 shares valued at approximately $7.27 million. This reduction reflects broader shifts within the investment community, as multiple large investors have also made adjustments to their Starbucks positions.
Financial Life Planners acquired new shares valued at $25,000, and Collier Financial followed suit with investments worth $27,000. Conversely, DT Investment Partners LLC raised its stake by 39.4% during the third quarter, accumulating 428 shares worth about $42,000. Other players, such as FSA Wealth Management and Hager Investment Management Services, also established new positions valued at $49,000 and $56,000, respectively. Presently, 72.29% of Starbucks’ stock is owned by hedge funds and institutional investors.
The stock has gained considerable attention from analysts recently, with various firms issuing their evaluations. The Royal Bank of Canada reiterated its "outperform" rating and set a target price of $115.00. Following this, Barclays increased its price objective from $119.00 to $124.00, designATING the stock as "overweight". Wedbush raised its figure from $95.00 to $100.00, providing the company with a "neutral" rating. Stifel Nicolaus adopted a more bullish outlook, raising its target price from $110.00 to $114.00 and giving Starbucks a "buy" rating.
Conversely, Redburn Atlantic maintained its position with a "sell" rating, advising investors to adjust expectations downwards with a new target price of $77.00, down from $84.00. The consensus among analysts leans toward a "Moderate Buy" rating, with Starbucks having one strong buy, seventeen buys, six holds, and three sell recommendations, according to MarketBeat.
Stock performance has also been dynamic. On the latest trading day, shares traded down by $1.59, landing at $111.75. This activity followed the exchange of nearly 9.7 million shares, slightly lower than the average trading volume of 11.2 million. At this time, Starbucks enjoys a market capitalization close to $126.94 billion, with key performance metrics including a P/E ratio of 36.05 and a PEG ratio of 3.59.
Starbucks recently announced its quarterly earnings report, releasing data on January 28th. The coffee giant posted earnings per share (EPS) of $0.69, marginally exceeding analyst estimates of $0.68. Notably, this figure reflects a decline from the $0.90 EPS reported the same quarter last year. The company has indicated expectations of achieving $2.99 EPS for the current year.
Starbucks operates globally as a major marketer and retailer of coffee, divided mainly between three segments: North America, International, and Channel Development. Their offerings encompass various beverages, ranging from coffees and teas to pastries and ready-to-drink products. The fast-growing presence of Starbucks throughout the globe showcases its influence within the coffee retail sector.
Looking forward, analysts continue to assess Starbucks amid adjustments by institutional investors, stock ratings changes, and recent financial performance metrics. These components will undeniably play pivotal roles as the company navigates through market fluctuations. Investors watching SBUX are encouraged to note how recommendations and stock activities evolve, particularly as January and February yield additional trading data and potential earnings insights.