Pinnacle Financial Partners Inc Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Pinnacle Financial Partners Inc trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,635 shares of the coffee company’s stock after selling 896 shares during the period. Pinnacle Financial Partners Inc’s holdings in Starbucks were worth $977,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Financial Life Planners purchased a new position in shares of Starbucks in the 4th quarter valued at approximately $25,000. Collier Financial purchased a new position in shares of Starbucks in the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new position in Starbucks in the 4th quarter worth approximately $36,000. FSA Wealth Management LLC acquired a new position in Starbucks in the 3rd quarter worth approximately $49,000. Finally, Morton Brown Family Wealth LLC increased its holdings in Starbucks by 43.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock worth $46,000 after buying an additional 154 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of SBUX stock opened at $111.75 on Monday. The stock’s fifty day moving average is $99.72 and its two-hundred day moving average is $97.46. The firm has a market capitalization of $126.94 billion, a P/E ratio of 36.05, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $114.68.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period last year, the company posted $0.90 EPS. On average, equities analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SBUX. UBS Group increased their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Wells Fargo & Company increased their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. TD Cowen reiterated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Finally, Barclays increased their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

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.