Starbucks Co. (NASDAQ:SBUX) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,288 shares of the coffee company’s stock after selling 1,464 shares during the period. QRG Capital Management Inc.’s holdings in Starbucks were worth $11,250,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners bought a new stake in shares of Starbucks in the 4th quarter worth $25,000. Collier Financial acquired a new position in Starbucks during the fourth quarter worth about $27,000. Marshall Investment Management LLC bought a new stake in Starbucks in the fourth quarter worth about $30,000. Centricity Wealth Management LLC acquired a new stake in Starbucks in the 4th quarter valued at about $36,000. Finally, Morton Brown Family Wealth LLC boosted its position in shares of Starbucks by 43.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock valued at $46,000 after purchasing an additional 154 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Up 1.3 %

Shares of NASDAQ:SBUX opened at $114.49 on Friday. The business has a fifty day simple moving average of $101.55 and a 200 day simple moving average of $98.22. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $115.70. The firm has a market cap of $130.05 billion, a price-to-earnings ratio of 36.93, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 quarter in the prior year, the firm posted $0.90 earnings per share. On average, sell-side analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SBUX. UBS Group boosted their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Barclays increased their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Redburn Atlantic restated a “sell” rating and issued a $77.00 target price (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. BMO Capital Markets upped their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Stifel Nicolaus lifted their price target on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

About Starbucks

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.