Kirtland Hills Capital Management LLC Reduces Stock Position in Starbucks Co. (NASDAQ:SBUX)

Kirtland Hills Capital Management LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,508 shares of the coffee company’s stock after selling 107 shares during the period. Kirtland Hills Capital Management LLC’s holdings in Starbucks were worth $868,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Financial Life Planners bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $25,000. Collier Financial purchased a new position in Starbucks during the fourth quarter worth $27,000. Marshall Investment Management LLC purchased a new position in Starbucks during the fourth quarter worth $30,000. Centricity Wealth Management LLC purchased a new position in Starbucks during the fourth quarter worth $36,000. Finally, Morton Brown Family Wealth LLC boosted its stake in Starbucks by 43.9% during the fourth 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. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $114.59 on Wednesday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $115.24. The company has a 50-day simple moving average of $100.58 and a 200-day simple moving average of $98.00. The company has a market cap of $130.16 billion, a PE ratio of 36.96, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the company earned $0.90 earnings per share. On average, analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on SBUX shares. TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Citigroup lifted their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Redburn Atlantic reiterated a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.75.

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.