Welch Group LLC Has $456,000 Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Welch Group LLC trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 3.2% during the first quarter, HoldingsChannel reports. The fund owned 4,994 shares of the coffee company’s stock after selling 165 shares during the quarter. Welch Group LLC’s holdings in Starbucks were worth $456,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vima LLC acquired a new stake in shares of Starbucks during the fourth quarter worth $26,000. Scarborough Advisors LLC acquired a new stake in shares of Starbucks during the fourth quarter worth $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks during the fourth quarter worth $27,000. Riggs Asset Managment Co. Inc. increased its position in shares of Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares during the period. Finally, Fairman Group LLC acquired a new stake in shares of Starbucks during the fourth quarter worth $30,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Rachel Ruggeri sold 3,750 shares of the firm’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 transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The disclosure for this sale can be found here. Insiders sold a total of 10,750 shares of company stock valued at $878,893 in the last three months. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Trading Up 0.1 %

Starbucks stock traded up $0.09 during midday trading on Thursday, hitting $80.29. The stock had a trading volume of 5,451,048 shares, compared to its average volume of 10,232,570. The firm’s fifty day moving average is $80.61 and its two-hundred day moving average is $88.89. The company has a market capitalization of $90.94 billion, a PE ratio of 22.09, a P/E/G ratio of 1.75 and a beta of 0.96. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUXGet Free Report) last released its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 earnings per share. As a group, equities research analysts predict that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research reports. Robert W. Baird reduced their price target on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Wells Fargo & Company reduced their price objective on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Morgan Stanley dropped their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Bank of America lifted their target price on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, William Blair lowered shares of Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $95.00.

View Our Latest Research Report on Starbucks

Starbucks Company 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.

See Also

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUXFree Report).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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