Quintet Private Bank Europe S.A. Sells 22,940 Shares of Starbucks Corporation $SBUX

Key Points

• Quintet Private Bank Europe S.A. sold 22,940 shares of Starbucks Corporation, reducing its holdings by 94.2% to only 1,402 shares worth $128,000, as per its recent 13F filing.
• Starbucks stock is facing downward pressure, recently opening at $81.90, with the company having a market cap of $93.10 billion and a P/E ratio of 35.30.
• Despite recent performance concerns, several analysts have issued optimistic projections, with BMO Capital Markets raising their price target on Starbucks shares to $115.00.

Quintet Private Bank Europe S.A. lessened its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 94.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,402 shares of the coffee company's stock after selling 22,940 shares during the quarter. Quintet Private Bank Europe S.A.'s holdings in Starbucks were worth $128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Napa Wealth Management purchased a new position in shares of Starbucks during the 1st quarter valued at $1,435,000. Vanguard Capital Wealth Advisors purchased a new position in shares of Starbucks during the 4th quarter valued at $285,000. Czech National Bank lifted its position in shares of Starbucks by 6.2% during the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock valued at $25,591,000 after buying an additional 15,132 shares during the last quarter. Personal CFO Solutions LLC lifted its position in shares of Starbucks by 125.5% during the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after buying an additional 5,151 shares during the last quarter. Finally, First Manhattan CO. LLC. lifted its position in shares of Starbucks by 33.1% during the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company's stock valued at $43,777,000 after buying an additional 111,015 shares during the last quarter. Institutional investors own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. BMO Capital Markets reaffirmed an "outperform" rating and set a $115.00 price target (up previously from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Stifel Nicolaus increased their price objective on Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Robert W. Baird raised Starbucks from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $100.00 to $115.00 in a report on Tuesday, August 12th. Baird R W raised Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, CICC Research assumed coverage on Starbucks in a report on Monday, June 30th. They set an "outperform" rating and a $100.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Starbucks presently has a consensus rating of "Moderate Buy" and an average price target of $104.40.

Starbucks Stock Down 0.6%

NASDAQ:SBUX opened at $81.90 on Monday. The business's 50-day moving average price is $90.45 and its two-hundred day moving average price is $90.47. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock has a market cap of $93.10 billion, a P/E ratio of 35.30, a PEG ratio of 4.89 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same period in the previous year, the business earned $0.93 EPS. The business's revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks's dividend payout ratio (DPR) is currently 105.17%.

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.

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