Quintet Private Bank Europe S.A. Reduces Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Quintet Private Bank Europe S.A. lowered its position in Starbucks Co. (NASDAQ:SBUX) by 41.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 192,785 shares of the coffee company’s stock after selling 135,596 shares during the quarter. Starbucks comprises about 1.2% of Quintet Private Bank Europe S.A.’s holdings, making the stock its 25th biggest holding. Quintet Private Bank Europe S.A.’s holdings in Starbucks were worth $18,509,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in Starbucks in the fourth quarter valued at about $1,240,652,000. Flossbach Von Storch AG lifted its position in Starbucks by 8,677.8% in the fourth quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock valued at $260,706,000 after buying an additional 2,684,470 shares during the last quarter. Bank of Nova Scotia lifted its position in Starbucks by 342.7% in the fourth quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock valued at $207,444,000 after buying an additional 1,672,656 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Starbucks by 432.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock valued at $195,825,000 after buying an additional 1,656,591 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Starbucks by 44.8% in the fourth quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after buying an additional 1,591,206 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was 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 $5,234,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,750 shares of company stock worth $642,050. 1.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on SBUX shares. UBS Group reduced their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Citigroup reduced their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group started coverage on shares of Starbucks in a report on Thursday. They issued a “buy” rating and a $100.00 target price on the stock. Evercore ISI reduced their target price on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Finally, William Blair cut shares of Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Starbucks has an average rating of “Hold” and a consensus price target of $95.00.

Starbucks Price Performance

Shares of NASDAQ SBUX traded down $0.59 during trading on Friday, hitting $79.65. 7,192,438 shares of the company were exchanged, compared to its average volume of 10,999,455. Starbucks Co. has a 1 year low of $71.80 and a 1 year high of $107.66. The company has a market cap of $90.22 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.74 and a beta of 0.96. The firm’s fifty day moving average price is $80.98 and its 200 day moving average price is $89.29.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 earnings per share. On average, research analysts forecast that Starbucks Co. will post 3.59 earnings per share for the current year.

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.