Wellington Management Group LLP Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Wellington Management Group LLP trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 21.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,865,501 shares of the coffee company’s stock after selling 1,320,633 shares during the quarter. Wellington Management Group LLP owned about 0.43% of Starbucks worth $467,137,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vima LLC purchased a new position in shares of Starbucks in the 4th quarter worth about $26,000. Scarborough Advisors LLC purchased a new position in shares of Starbucks in the 4th quarter worth about $26,000. DSM Capital Partners LLC purchased a new position in shares of Starbucks in the 4th quarter worth about $27,000. Riggs Asset Managment Co. Inc. boosted its holdings in shares of Starbucks by 1,578.9% in the 3rd 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 in the last quarter. Finally, Cypress Capital Management LLC WY boosted its holdings in shares of Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after purchasing an additional 185 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SBUX shares. Stifel Nicolaus cut their price objective on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. Jefferies Financial Group lowered their target price on Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. William Blair lowered Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company lowered their target price on Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft lowered Starbucks from a “buy” rating to a “hold” rating and lowered their target price for the company from $108.00 to $89.00 in a research note on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Hold” and a consensus target price of $95.00.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s 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 transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,750 shares of company stock worth $642,050. Insiders own 1.98% of the company’s stock.

Starbucks Stock Down 0.7 %

Starbucks stock opened at $79.65 on Monday. The company has a market capitalization of $90.22 billion, a P/E ratio of 21.94, a PEG ratio of 1.74 and a beta of 0.97. The stock’s 50 day moving average is $80.98 and its 200 day moving average is $89.21. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 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 business had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter in the prior year, the business posted $0.74 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, equities analysts expect that Starbucks Co. will post 3.59 EPS for the current year.

About Starbucks

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.