Summit Financial LLC Sells 4,583 Shares of Starbucks Co. (NASDAQ:SBUX)

Summit Financial LLC decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 11.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 35,323 shares of the coffee company’s stock after selling 4,583 shares during the period. Summit Financial LLC’s holdings in Starbucks were worth $3,223,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Financial Life Planners acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $25,000. Graney & King LLC acquired a new position in Starbucks in the 4th quarter valued at $26,000. Collier Financial bought a new stake in shares of Starbucks during the 4th quarter valued at $27,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks during the 4th quarter worth $27,000. Finally, Marshall Investment Management LLC bought a new position in shares of Starbucks in the fourth quarter worth $30,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SBUX shares. BMO Capital Markets upped their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Barclays upped 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. Wells Fargo & Company upped their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Finally, UBS Group boosted their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $106.12.

Starbucks Stock Performance

Starbucks stock opened at $98.09 on Tuesday. The firm has a market cap of $111.42 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 3.59 and a beta of 0.99. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a 50 day moving average price of $105.81 and a two-hundred day moving average price of $99.54.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm earned $0.90 earnings per share. As a group, equities research analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

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.