Starbucks Co. (NASDAQ:SBUX) Stake Lifted by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 4.7% in the 1st quarter, Holdings Channel reports. The firm owned 5,593 shares of the coffee company’s stock after buying an additional 250 shares during the period. Pinnacle Bancorp Inc.’s holdings in Starbucks were worth $511,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SBUX. Sendero Wealth Management LLC boosted its holdings in Starbucks by 5.3% in the 1st quarter. Sendero Wealth Management LLC now owns 9,166 shares of the coffee company’s stock valued at $838,000 after purchasing an additional 463 shares during the period. Register Financial Advisors LLC acquired a new stake in shares of Starbucks during the 1st quarter worth approximately $58,000. Fifth Third Wealth Advisors LLC grew its position in shares of Starbucks by 43.1% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 8,701 shares of the coffee company’s stock worth $795,000 after buying an additional 2,622 shares during the period. Hennessy Advisors Inc. acquired a new stake in shares of Starbucks during the 1st quarter worth approximately $5,136,000. Finally, Hengehold Capital Management LLC grew its holdings in Starbucks by 6.8% during the first quarter. Hengehold Capital Management LLC now owns 4,540 shares of the coffee company’s stock valued at $415,000 after purchasing an additional 290 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research reports. Wells Fargo & Company cut their price target on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group started coverage on shares of Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective on the stock. Bank of America boosted their price objective on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Evercore ISI cut their price objective on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, BTIG Research cut their price objective on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.54.

Starbucks Stock Down 1.7 %

Shares of NASDAQ:SBUX traded down $1.39 on Friday, hitting $77.85. 13,198,994 shares of the company traded hands, compared to its average volume of 10,447,203. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66. The stock has a 50 day simple moving average of $79.66 and a 200-day simple moving average of $88.09. The company has a market cap of $88.18 billion, a PE ratio of 21.45, a PEG ratio of 1.73 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Dividend Announcement

The firm 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 2.93%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 10,750 shares of company stock valued at $878,893 in the last quarter. 1.98% of the stock is currently owned by insiders.

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.