Quotient Wealth Partners LLC Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Quotient Wealth Partners LLC lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 12.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,079 shares of the coffee company’s stock after selling 1,282 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Starbucks were worth $828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Benedict Financial Advisors Inc. lifted its position in Starbucks by 3.4% during the fourth quarter. Benedict Financial Advisors Inc. now owns 45,508 shares of the coffee company’s stock valued at $4,153,000 after purchasing an additional 1,493 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Starbucks in the fourth quarter worth about $812,000. Empowered Funds LLC lifted its position in shares of Starbucks by 14.7% during the 4th quarter. Empowered Funds LLC now owns 45,818 shares of the coffee company’s stock valued at $4,181,000 after buying an additional 5,877 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of Starbucks by 1.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 24,310 shares of the coffee company’s stock valued at $2,218,000 after acquiring an additional 411 shares during the period. Finally, Apollon Wealth Management LLC increased its holdings in Starbucks by 26.0% in the 4th quarter. Apollon Wealth Management LLC now owns 48,206 shares of the coffee company’s stock worth $4,399,000 after acquiring an additional 9,961 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. BMO Capital Markets upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Wedbush upped their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Bank of America dropped their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Finally, Redburn Atlantic reissued a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Starbucks Price Performance

Shares of SBUX stock opened at $112.20 on Friday. The company has a market cap of $127.45 billion, a PE ratio of 36.19, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. The stock’s 50 day simple moving average is $97.12 and its two-hundred day simple moving average is $94.57. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $112.62.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the prior year, the firm earned $0.90 earnings per share. Equities research analysts expect that Starbucks Co. will post 3 EPS for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.17%. Starbucks’s payout ratio is 78.71%.

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.