Principal Securities Inc. Cuts Holdings in Starbucks Co. (NASDAQ:SBUX)

Principal Securities Inc. lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,611 shares of the coffee company’s stock after selling 1,027 shares during the quarter. Principal Securities Inc.’s holdings in Starbucks were worth $6,991,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Jmac Enterprises LLC increased its position in shares of Starbucks by 1.0% during the 4th quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock valued at $912,000 after purchasing an additional 103 shares during the last quarter. Aspire Capital Advisors LLC grew its position in Starbucks by 0.5% during the fourth quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock valued at $2,118,000 after acquiring an additional 104 shares during the last quarter. Riverview Trust Co raised its stake in shares of Starbucks by 3.4% during the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after acquiring an additional 105 shares in the last quarter. Optas LLC boosted its stake in shares of Starbucks by 0.6% in the 4th quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock valued at $1,525,000 after purchasing an additional 105 shares in the last quarter. Finally, Boomfish Wealth Group LLC grew its holdings in shares of Starbucks by 0.7% during the 4th quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock valued at $1,399,000 after purchasing an additional 108 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent research reports. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Barclays lifted their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. UBS Group raised their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Citigroup upped their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $112.55 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $113.47. The stock’s fifty day moving average price is $98.28 and its 200-day moving average price is $95.87. The company has a market cap of $127.85 billion, a P/E ratio of 36.31, a PEG ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the prior year, the firm posted $0.90 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.17%. Starbucks’s payout ratio is 78.71%.

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.