Cullen Investment Group LTD. Has $9.47 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Cullen Investment Group LTD. reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.1% in the 3rd quarter, Holdings Channel reports. The firm owned 97,163 shares of the coffee company’s stock after selling 4,148 shares during the period. Starbucks accounts for approximately 1.4% of Cullen Investment Group LTD.’s holdings, making the stock its 19th largest position. Cullen Investment Group LTD.’s holdings in Starbucks were worth $9,472,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Cox Capital Mgt LLC increased its holdings in shares of Starbucks by 41.9% during the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after buying an additional 13,372 shares in the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of Starbucks during the fourth quarter worth $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new position in shares of Starbucks during the fourth quarter worth $31,246,000. Fidelis Capital Partners LLC increased its holdings in shares of Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after buying an additional 1,751 shares in the last quarter. Finally, TKG Advisors LLC increased its holdings in shares of Starbucks by 4.6% during the fourth quarter. TKG Advisors LLC now owns 19,503 shares of the coffee company’s stock worth $1,873,000 after buying an additional 860 shares in the last quarter. 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 Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of several research analyst reports. Bank of America upped their price target on shares of Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research note on Wednesday, August 21st. TD Cowen reissued a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Thursday, September 12th. BMO Capital Markets boosted their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average target price of $101.12.

Starbucks Trading Up 1.1 %

Shares of SBUX traded up $1.02 on Friday, reaching $96.58. The company’s stock had a trading volume of 6,819,465 shares, compared to its average volume of 11,699,863. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The stock has a market capitalization of $109.40 billion, a PE ratio of 26.61, a PEG ratio of 2.33 and a beta of 0.97. The firm has a fifty day moving average of $90.91 and a 200-day moving average of $84.44.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the business posted $1.00 EPS. The firm’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Starbucks 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.