Starbucks Co. (NASDAQ:SBUX) Stock Position Trimmed by Principal Street Partners LLC

Principal Street Partners LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 2.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,818 shares of the coffee company’s stock after selling 124 shares during the period. Principal Street Partners LLC’s holdings in Starbucks were worth $567,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the 2nd quarter valued at $25,000. New Millennium Group LLC acquired a new position in shares of Starbucks during the second quarter valued at $26,000. Stephens Consulting LLC raised its stake in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Starbucks during the 2nd quarter valued at about $27,000. Finally, Olistico Wealth LLC acquired a new position in Starbucks during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The trade was a 1.06 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.8 %

SBUX stock traded down $0.79 during midday trading on Tuesday, reaching $101.05. The company had a trading volume of 276,662 shares, compared to its average volume of 11,008,389. The company has a 50 day moving average of $97.22 and a two-hundred day moving average of $87.38. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The company has a market capitalization of $114.57 billion, a P/E ratio of 30.77, a PEG ratio of 3.00 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the firm earned $1.06 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that Starbucks Co. will post 3.12 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.41%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is currently 73.72%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SBUX. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Citigroup lifted their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus upped their price objective on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, UBS Group boosted their price target on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

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.