Kentucky Retirement Systems Insurance Trust Fund Lowers Position in Starbucks Co. (NASDAQ:SBUX)

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 20.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,687 shares of the coffee company's stock after selling 6,864 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Starbucks were worth $2,435,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Strategic Financial Concepts LLC bought a new position in Starbucks during the fourth quarter worth about $62,000. Dakota Wealth Management lifted its stake in shares of Starbucks by 0.5% during the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company's stock valued at $5,439,000 after buying an additional 300 shares in the last quarter. Weil Company Inc. boosted its holdings in Starbucks by 31.2% in the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company's stock worth $3,371,000 after buying an additional 8,222 shares during the period. Maia Wealth LLC grew its stake in Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company's stock valued at $1,805,000 after buying an additional 7,596 shares in the last quarter. Finally, Investment Management Corp of Ontario raised its holdings in Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company's stock valued at $3,664,000 after acquiring an additional 12,300 shares during the period. Institutional investors own 72.29% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group raised 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. Wedbush raised their target price on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Redburn Atlantic reaffirmed a "sell" rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. 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. Finally, Stifel Nicolaus boosted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Starbucks presently has an average rating of "Moderate Buy" and an average target price of $105.33.

Starbucks Trading Down 1.4 %

Shares of NASDAQ:SBUX traded down $1.59 on Friday, reaching $111.75. 9,661,850 shares of the company traded hands, compared to its average volume of 9,790,830. The stock has a market capitalization of $126.94 billion, a P/E ratio of 36.05, a price-to-earnings-growth ratio of 3.56 and a beta of 1.00. The business's 50-day simple moving average is $99.72 and its 200 day simple moving average is $97.15. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $114.68.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced 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 period in the previous year, the company posted $0.90 EPS. Sell-side analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal 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.