Exchange Capital Management Inc. Decreases Stake in Starbucks Co. (NASDAQ:SBUX)

Exchange Capital Management Inc. cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,450 shares of the coffee company’s stock after selling 791 shares during the period. Exchange Capital Management Inc.’s holdings in Starbucks were worth $3,874,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Kuhn & Co Investment Counsel grew its stake in Starbucks by 2.3% in the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock worth $387,000 after purchasing an additional 96 shares during the period. Jmac Enterprises LLC lifted its holdings in shares of Starbucks by 1.0% during the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock valued at $912,000 after purchasing an additional 103 shares in the last quarter. Aspire Capital Advisors LLC lifted its holdings in shares of Starbucks by 0.5% during the fourth quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock valued at $2,118,000 after purchasing an additional 104 shares in the last quarter. Optas LLC increased its position in Starbucks by 0.6% during the fourth quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock valued at $1,525,000 after acquiring an additional 105 shares during the last quarter. Finally, Boomfish Wealth Group LLC increased its position in Starbucks by 0.7% during the fourth quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock valued at $1,399,000 after acquiring an additional 108 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Redburn Atlantic reiterated a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Barclays raised their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their price target on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Wedbush raised their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Citigroup lifted their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Price Performance

SBUX stock opened at $113.19 on Tuesday. The business has a 50 day simple moving average of $100.13 and a 200-day simple moving average of $97.72. The firm has a market capitalization of $128.57 billion, a PE ratio of 36.51, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $114.68.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping 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 quarter in the previous year, the business earned $0.90 EPS. On average, equities research analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

About Starbucks

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.