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

Quintet Private Bank Europe S.A. reduced its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 21.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,342 shares of the coffee company's stock after selling 6,649 shares during the period. Quintet Private Bank Europe S.A.'s holdings in Starbucks were worth $2,388,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks during the fourth quarter valued at about $25,000. Graney & King LLC bought a new position in shares of Starbucks during the fourth quarter valued at about $26,000. Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks during the fourth quarter valued at about $27,000. Marshall Investment Management LLC bought a new position in shares of Starbucks during the fourth quarter valued at about $30,000. Finally, Noble Wealth Management PBC bought a new position in shares of Starbucks during the fourth quarter valued at about $30,000. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on SBUX. Barclays dropped their price target on shares of Starbucks from $106.00 to $98.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Citigroup raised their price target on shares of Starbucks from $84.00 to $95.00 and gave the company a "neutral" rating in a research report on Thursday. Robert W. Baird reiterated a "neutral" rating and issued a $85.00 target price (down from $114.00) on shares of Starbucks in a research note on Monday, April 7th. BMO Capital Markets dropped their target price on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $98.96.

Starbucks Trading Down 1.1%

Shares of NASDAQ SBUX traded down $1.06 during midday trading on Friday, hitting $93.26. The company's stock had a trading volume of 7,115,975 shares, compared to its average volume of 11,035,453. The stock has a fifty day moving average price of $84.89 and a 200 day moving average price of $94.98. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The firm has a market capitalization of $105.98 billion, a price-to-earnings ratio of 30.08, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same period last year, the company posted $0.68 EPS. The business's revenue was up 2.3% on a year-over-year basis. On average, equities research analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal 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.