Quotient Wealth Partners LLC Sells 4,061 Shares of Starbucks Co. (NASDAQ:SBUX)

Quotient Wealth Partners LLC trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 28.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,361 shares of the coffee company’s stock after selling 4,061 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Starbucks were worth $1,010,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cox Capital Mgt LLC increased its position in Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after purchasing an additional 13,372 shares during the period. Brevan Howard Capital Management LP bought a new stake in shares of Starbucks during the fourth quarter worth approximately $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new position in Starbucks in the fourth quarter valued at approximately $31,246,000. Fidelis Capital Partners LLC grew its stake in shares of Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after purchasing an additional 1,751 shares during the period. Finally, TKG Advisors LLC grew its position in shares of Starbucks by 4.6% during the 4th quarter. TKG Advisors LLC now owns 19,503 shares of the coffee company’s stock worth $1,873,000 after buying an additional 860 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 1.2 %

NASDAQ SBUX traded down $1.19 during midday trading on Thursday, hitting $94.69. The company had a trading volume of 1,781,831 shares, compared to its average volume of 11,559,069. The company has a market capitalization of $107.30 billion, a PE ratio of 26.41, a P/E/G ratio of 2.12 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The firm has a 50-day moving average price of $92.09 and a 200-day moving average price of $84.48.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the prior year, the business posted $1.00 earnings per share. Starbucks’s revenue was down .6% compared to the same quarter last year. On average, equities analysts anticipate that Starbucks Co. will post 3.55 EPS for the current year.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly 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 the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and upped their price target for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a report on Wednesday, August 21st. Morgan Stanley restated an “overweight” rating and set a $98.00 target price on shares of Starbucks in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.16.

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.