Quent Capital LLC Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

Quent Capital LLC reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 15.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,725 shares of the coffee company’s stock after selling 664 shares during the quarter. Quent Capital LLC’s holdings in Starbucks were worth $290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Cascade Investment Advisors Inc. purchased a new position in shares of Starbucks in the second quarter valued at $1,454,000. Chickasaw Capital Management LLC lifted its position in Starbucks by 0.9% in the second quarter. Chickasaw Capital Management LLC now owns 18,515 shares of the coffee company’s stock worth $1,441,000 after buying an additional 165 shares during the last quarter. Bank & Trust Co bought a new stake in Starbucks in the second quarter worth $549,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Starbucks in the second quarter worth $1,313,000. Finally, HBW Advisory Services LLC lifted its position in Starbucks by 16.1% in the second quarter. HBW Advisory Services LLC now owns 46,355 shares of the coffee company’s stock worth $3,609,000 after buying an additional 6,443 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 2.0 %

Shares of Starbucks stock traded up $1.51 on Tuesday, reaching $75.37. 10,519,625 shares of the stock were exchanged, compared to its average volume of 10,875,823. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The firm has a market capitalization of $85.41 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 1.76 and a beta of 0.94. The business has a 50 day moving average price of $77.51 and a two-hundred day moving average price of $84.42.

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

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is presently 62.81%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SBUX. Guggenheim lowered their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Stifel Nicolaus lowered their price target on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. UBS Group decreased their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Finally, BMO Capital Markets decreased their target price on Starbucks from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Seventeen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Hold” and an average target price of $90.88.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,250 shares of company stock valued at $579,375. 1.98% of the stock is owned by company insiders.

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.