QRG Capital Management Inc. Sells 1,464 Shares of Starbucks Co. (NASDAQ:SBUX)

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

A number of other hedge funds have also made changes to their positions in SBUX. Financial Life Planners acquired a new stake in Starbucks in the 4th quarter worth approximately $25,000. Collier Financial bought a new position in shares of Starbucks in the fourth quarter valued at approximately $27,000. Marshall Investment Management LLC acquired a new stake in shares of Starbucks in the fourth quarter worth $30,000. Centricity Wealth Management LLC bought a new stake in shares of Starbucks during the 4th quarter worth $36,000. Finally, Morton Brown Family Wealth LLC boosted its holdings 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 worth $46,000 after buying an additional 154 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of SBUX stock opened at $114.49 on Friday. The stock’s fifty day simple moving average is $101.55 and its 200 day simple moving average is $98.22. Starbucks Co. has a one year low of $71.55 and a one 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 issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating 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 period in the prior year, the firm posted $0.90 EPS. On average, research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SBUX. Stifel Nicolaus boosted their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. UBS Group boosted their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Wedbush raised their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Citigroup lifted their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company raised their price objective on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday. 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 assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $105.75.

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.