Peloton Wealth Strategists Sells 2,003 Shares of Starbucks Co. (NASDAQ:SBUX)

Peloton Wealth Strategists decreased its holdings in Starbucks Co. (NASDAQ:SBUXFree Report) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,200 shares of the coffee company’s stock after selling 2,003 shares during the period. Starbucks accounts for about 1.4% of Peloton Wealth Strategists’ portfolio, making the stock its 29th biggest holding. Peloton Wealth Strategists’ holdings in Starbucks were worth $3,284,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Orca Investment Management LLC increased its position in Starbucks by 6.6% during the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock valued at $719,000 after acquiring an additional 466 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after buying an additional 1,281,471 shares during the last quarter. Summa Corp. purchased a new stake in shares of Starbucks during the fourth quarter valued at about $384,000. FFT Wealth Management LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at about $209,000. Finally, Tyche Wealth Partners LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at about $794,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SBUX. The Goldman Sachs Group began coverage on shares of Starbucks in a research report on Thursday. They set a “buy” rating and a $100.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Starbucks from a “buy” rating to a “hold” rating and cut their price objective for the company from $108.00 to $89.00 in a report on Wednesday, May 1st. Citigroup cut their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, UBS Group cut their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $95.00.

Get Our Latest Report on Starbucks

Starbucks Stock Down 1.3 %

SBUX stock traded down $1.08 on Friday, reaching $79.16. 4,207,642 shares of the company’s stock were exchanged, compared to its average volume of 10,256,497. The firm has a market cap of $89.66 billion, a PE ratio of 22.10, a P/E/G ratio of 1.73 and a beta of 0.96. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66. The stock has a fifty day moving average of $81.13 and a 200-day moving average of $89.53.

Starbucks (NASDAQ:SBUXGet Free Report) last issued its quarterly earnings data 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). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Insider Activity at Starbucks

In other Starbucks 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 transaction 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 approximately $5,234,480. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated 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 owns 81,199 shares in the company, valued at $6,933,582.61. The disclosure for this sale can be found here. In the last three months, insiders sold 7,750 shares of company stock valued at $642,050. Corporate insiders own 1.98% of the company’s stock.

About Starbucks

(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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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