Wesbanco Bank Inc. Sells 6,750 Shares of Starbucks Corporation $SBUX

Wesbanco Bank Inc. lessened its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 9.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 62,384 shares of the coffee company’s stock after selling 6,750 shares during the quarter. Wesbanco Bank Inc.’s holdings in Starbucks were worth $5,589,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Rachor Investment Advisory Services LLC bought a new position in Starbucks in the 4th quarter worth approximately $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of Starbucks in the fourth quarter worth $25,000. Phillip James Consulting Co. acquired a new position in shares of Starbucks during the fourth quarter valued at about $25,000. Entrust Financial LLC bought a new stake in shares of Starbucks in the 4th quarter worth approximately $26,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of Starbucks during the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SBUX shares. Evercore raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Citizens Jmp began coverage on Starbucks in a research report on Monday, March 30th. They set an “underperform” rating and a $84.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Starbucks in a research note on Wednesday, April 22nd. Stephens assumed coverage on Starbucks in a report on Thursday, May 14th. They set an “overweight” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Starbucks in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.59.

Starbucks Stock Up 1.4%

Shares of NASDAQ SBUX opened at $104.60 on Friday. The stock’s 50 day moving average price is $101.50 and its 200-day moving average price is $95.76. The company has a market capitalization of $119.21 billion, a PE ratio of 79.24, a PEG ratio of 2.05 and a beta of 0.98. Starbucks Corporation has a twelve month low of $77.99 and a twelve month high of $108.88.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 28th. The coffee company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. Starbucks had a net margin of 3.89% and a negative return on equity of 29.24%. The firm had revenue of $9.53 billion during the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter last year, the company earned $0.41 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. Starbucks has set its FY 2026 guidance at 2.250-2.450 EPS. As a group, research analysts expect that Starbucks Corporation will post 2.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Starbucks news, CEO Brady Brewer sold 588 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $100.00, for a total value of $58,800.00. Following the completion of the sale, the chief executive officer owned 79,593 shares in the company, valued at approximately $7,959,300. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sara Kelly sold 2,000 shares of Starbucks stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $105.00, for a total value of $210,000.00. Following the sale, the executive vice president owned 57,653 shares in the company, valued at $6,053,565. This represents a 3.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 8,687 shares of company stock valued at $863,707 over the last quarter. 0.03% of the stock is currently owned by company insiders.

Starbucks Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.