Cullen Investment Group LTD. Has $9.65 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Cullen Investment Group LTD. lessened its stake in Starbucks Co. (NASDAQ:SBUXFree Report) by 4.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,019 shares of the coffee company’s stock after selling 5,024 shares during the quarter. Starbucks comprises 1.5% of Cullen Investment Group LTD.’s investment portfolio, making the stock its 18th biggest position. Cullen Investment Group LTD.’s holdings in Starbucks were worth $9,646,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Scarborough Advisors LLC acquired a new position in Starbucks during the fourth quarter worth about $26,000. Vima LLC bought a new stake in shares of Starbucks during the fourth quarter worth about $26,000. DSM Capital Partners LLC bought a new stake in shares of Starbucks during the fourth quarter worth about $27,000. Fairman Group LLC bought a new stake in shares of Starbucks during the fourth quarter worth about $30,000. Finally, Riggs Asset Managment Co. Inc. grew its holdings 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 purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several research reports. UBS Group reduced their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. BTIG Research reduced their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Piper Sandler reduced their target price on Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft cut Starbucks from a “buy” rating to a “hold” rating and reduced their target price for the company from $108.00 to $89.00 in a report on Wednesday, May 1st. Finally, Evercore ISI reduced their target price on Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Starbucks currently has a consensus rating of “Hold” and an average price target of $95.00.

Check Out Our Latest Stock Report on SBUX

Starbucks Stock Down 1.4 %

Shares of NASDAQ:SBUX opened at $80.20 on Wednesday. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66. The stock’s 50 day moving average is $80.73 and its 200-day moving average is $88.95. The firm has a market capitalization of $90.84 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 1.78 and a beta of 0.96.

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

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value 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 $6,933,582.61. The disclosure for this sale can be found here. In the last three months, insiders sold 11,000 shares of company stock valued at $902,050. 1.98% of the stock is owned by insiders.

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.

Further Reading

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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