Starbucks Co. (NASDAQ:SBUX) Stock Holdings Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,495,008 shares of the coffee company’s stock after selling 175,789 shares during the quarter. Principal Financial Group Inc. owned 0.22% of Starbucks worth $194,236,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vima LLC bought a new stake in shares of Starbucks in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC bought a new stake in shares of Starbucks in the 4th quarter worth approximately $26,000. New Millennium Group LLC bought a new stake in shares of Starbucks in the 2nd quarter worth approximately $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks during the fourth quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Starbucks during the second quarter valued at approximately $27,000. 72.29% of the stock is currently owned by institutional investors.

Insider Activity at Starbucks

In related news, 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 transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The shares were 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 of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Insiders sold a total of 9,790 shares of company stock worth $865,514 in the last ninety days. 1.98% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $98.00 price target on shares of Starbucks in a report on Wednesday, July 31st. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Bank of America boosted their price target on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a report on Monday, June 10th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, TD Cowen upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the company from $81.00 to $105.00 in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $99.21.

Starbucks Price Performance

Shares of NASDAQ SBUX traded down $0.29 during trading hours on Friday, hitting $94.57. 7,114,395 shares of the stock were exchanged, compared to its average volume of 12,037,227. The company’s 50 day moving average is $80.76 and its 200 day moving average is $83.98. The firm has a market capitalization of $107.12 billion, a P/E ratio of 26.05, a P/E/G ratio of 2.28 and a beta of 0.94. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 EPS. Research analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.41%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

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.