Starbucks Co. (NASDAQ:SBUX) is Palouse Capital Management Inc.’s 4th Largest Position

Palouse Capital Management Inc. lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,277 shares of the coffee company’s stock after selling 1,218 shares during the quarter. Starbucks accounts for approximately 2.9% of Palouse Capital Management Inc.’s holdings, making the stock its 4th biggest position. Palouse Capital Management Inc.’s holdings in Starbucks were worth $4,314,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SBUX. Cornerstone Wealth Management LLC raised its position in Starbucks by 4.7% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 5,671 shares of the coffee company’s stock worth $553,000 after buying an additional 252 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in Starbucks in the 3rd quarter worth about $230,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Starbucks by 4.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 127,248 shares of the coffee company’s stock valued at $12,405,000 after purchasing an additional 5,534 shares during the period. Onyx Bridge Wealth Group LLC bought a new stake in shares of Starbucks during the 3rd quarter valued at about $226,000. Finally, Claro Advisors LLC grew its stake in shares of Starbucks by 35.8% during the 3rd quarter. Claro Advisors LLC now owns 16,955 shares of the coffee company’s stock valued at $1,653,000 after purchasing an additional 4,474 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction 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 sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SBUX. Wedbush boosted their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. BMO Capital Markets boosted their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. UBS Group boosted their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Bank of America cut their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Finally, Barclays boosted their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

Starbucks Price Performance

Shares of SBUX opened at $112.55 on Friday. The stock has a market capitalization of $127.85 billion, a price-to-earnings ratio of 36.31, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $113.47. The business’s 50 day simple moving average is $98.28 and its 200-day simple moving average is $95.87.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 business posted $0.90 EPS. On average, sell-side analysts expect that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 annualized dividend and a dividend yield of 2.17%. Starbucks’s dividend payout ratio (DPR) is 78.71%.

Starbucks 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.