Quintet Private Bank Europe S.A. lowered its stake in Starbucks Co. (NASDAQ:SBUX – Free Report) by 41.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,785 shares of the coffee company’s stock after selling 135,596 shares during the quarter. Starbucks makes up 1.2% of Quintet Private Bank Europe S.A.’s investment portfolio, making the stock its 25th largest position. Quintet Private Bank Europe S.A.’s holdings in Starbucks were worth $18,509,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in the stock. DSM Capital Partners LLC purchased a new position in shares of Starbucks during the fourth quarter worth about $27,000. Riggs Asset Managment Co. Inc. boosted its stake in Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares in the last quarter. Cypress Capital Management LLC WY boosted its stake in Starbucks by 133.1% in the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after buying an additional 185 shares in the last quarter. Atticus Wealth Management LLC boosted its stake in Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its stake in Starbucks by 150.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 198 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.
Analyst Ratings Changes
Several analysts have issued reports on the company. Morgan Stanley cut their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. JPMorgan Chase & Co. lowered their price objective on Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. UBS Group lowered their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. TD Cowen reiterated a “hold” rating and issued a $85.00 price objective on shares of Starbucks in a research report on Thursday. Finally, Wedbush decreased their target price on Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $95.00.
Get Our Latest Stock Report on Starbucks
Insider Transactions at Starbucks
In other news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders have sold 7,750 shares of company stock valued at $642,050 over the last quarter. 1.98% of the stock is currently owned by company insiders.
Starbucks Trading Down 0.7 %
SBUX stock traded down $0.59 during trading on Friday, reaching $79.65. The stock had a trading volume of 7,192,438 shares, compared to its average volume of 10,999,455. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66. The stock’s 50 day moving average is $80.98 and its two-hundred day moving average is $89.29. The firm has a market cap of $90.22 billion, a PE ratio of 21.94, a PEG ratio of 1.74 and a beta of 0.96.
Starbucks (NASDAQ:SBUX – Get Free Report) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the prior year, the company posted $0.74 EPS. The firm’s revenue was down 1.8% compared to the same quarter last year. On average, research analysts anticipate that Starbucks Co. will post 3.59 EPS for the current 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.
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