Starbucks Co. (NASDAQ:SBUX) Shares Sold by Godshalk Welsh Capital Management Inc.

Godshalk Welsh Capital Management Inc. lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 10.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,985 shares of the coffee company’s stock after selling 1,575 shares during the quarter. Godshalk Welsh Capital Management Inc.’s holdings in Starbucks were worth $1,089,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Ontario Teachers Pension Plan Board purchased a new stake in shares of Starbucks during the first quarter worth approximately $415,167,000. Diamond Hill Capital Management Inc. purchased a new position in Starbucks in the second quarter valued at approximately $243,910,000. Flossbach Von Storch AG boosted its holdings in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after acquiring an additional 2,897,282 shares during the period. Capital World Investors acquired a new stake in shares of Starbucks in the first quarter valued at approximately $257,721,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Starbucks by 108.1% in the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after acquiring an additional 2,324,847 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 0.8 %

SBUX stock opened at $96.90 on Friday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The stock’s 50 day moving average is $86.24 and its two-hundred day moving average is $84.07. The company has a market capitalization of $109.81 billion, a PE ratio of 26.69, a P/E/G ratio of 2.31 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the previous year, the business earned $1.00 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.56 EPS for the current year.

Wall Street Analyst Weigh In

SBUX has been the subject of several recent research reports. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Jefferies Financial Group dropped their price target on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Citigroup raised their price target on Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Bank of America lifted their price objective on Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Barclays lifted their price objective on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $100.08.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

Starbucks Company 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.