Quent Capital LLC Has $282,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Quent Capital LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 22.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,896 shares of the coffee company’s stock after selling 829 shares during the period. Quent Capital LLC’s holdings in Starbucks were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the second quarter valued at about $25,000. Vima LLC acquired a new stake in Starbucks in the 4th quarter worth about $26,000. Scarborough Advisors LLC bought a new stake in Starbucks in the 4th quarter valued at about $26,000. New Millennium Group LLC acquired a new position in shares of Starbucks during the 2nd quarter worth approximately $26,000. Finally, Stephens Consulting LLC increased its holdings in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $96.58 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The firm has a market cap of $109.44 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 2.12 and a beta of 0.97. The firm’s fifty day moving average is $90.91 and its 200-day moving average is $84.39.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 EPS. Sell-side analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SBUX. Citigroup boosted their price target on Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their target price for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. The Goldman Sachs Group began coverage on Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target for the company. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Finally, Wedbush restated a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.12.

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.