Principle Wealth Partners LLC Sells 201 Shares of Starbucks Co. (NASDAQ:SBUX)

Principle Wealth Partners LLC trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,861 shares of the coffee company’s stock after selling 201 shares during the quarter. Principle Wealth Partners LLC’s holdings in Starbucks were worth $991,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SBUX. Dakota Wealth Management increased its holdings in Starbucks by 0.5% during the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after purchasing an additional 300 shares in the last quarter. Weil Company Inc. grew its holdings in shares of Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after purchasing an additional 8,222 shares during the last quarter. Maia Wealth LLC increased its stake in shares of Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after buying an additional 7,596 shares in the last quarter. Investment Management Corp of Ontario raised its holdings in shares of Starbucks by 48.6% in the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after buying an additional 12,300 shares during the last quarter. Finally, Aljian Capital Management LLC lifted its position in Starbucks by 48.5% during the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after buying an additional 9,936 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research reports. UBS Group raised their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Citigroup boosted their price objective on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Morgan Stanley lifted their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Barclays upped their price target on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by insiders.

Starbucks Trading Down 0.7 %

SBUX stock opened at $111.45 on Tuesday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $112.62. The firm has a market cap of $126.60 billion, a PE ratio of 35.95, a P/E/G ratio of 3.52 and a beta of 1.00. The business’s 50-day moving average price is $97.12 and its two-hundred day moving average price is $94.84.

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

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.19%. 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.