Quadrant Capital Group LLC Sells 1,202 Shares of Starbucks Co. (NASDAQ:SBUX)

by · The Markets Daily

Quadrant Capital Group LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX – Free Report) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,995 shares of the coffee company’s stock after selling 1,202 shares during the period. Quadrant Capital Group LLC’s holdings in Starbucks were worth $1,642,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Starbucks by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock valued at $10,138,442,000 after acquiring an additional 784,432 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Starbucks by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock valued at $2,259,516,000 after purchasing an additional 548,245 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Starbucks by 4.7% during the fourth quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock valued at $1,448,030,000 after purchasing an additional 718,880 shares in the last quarter. Norges Bank purchased a new stake in Starbucks in the fourth quarter worth $1,244,812,000. Finally, Fisher Asset Management LLC raised its holdings in Starbucks by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company’s stock worth $1,087,406,000 after purchasing an additional 154,093 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 7.0 %

Shares of NASDAQ:SBUX opened at $82.10 on Friday. The stock has a market capitalization of $93.26 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The firm’s 50 day moving average price is $105.32 and its 200-day moving average price is $99.38. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the previous year, the firm posted $0.90 EPS. Analysts expect that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.97%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent research reports. Barclays upped their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research note on Tuesday, March 18th. Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Finally, Wells Fargo & Company boosted their target price on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $106.12.

View Our Latest Research Report on SBUX

Starbucks Profile

(Free Report)

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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