Pinnacle Bancorp Inc. Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Pinnacle Bancorp Inc. lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,593 shares of the coffee company’s stock after buying an additional 250 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Starbucks were worth $511,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new position in Starbucks in the fourth quarter worth approximately $1,240,652,000. Flossbach Von Storch AG boosted its position in Starbucks by 8,677.8% during the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock valued at $260,706,000 after acquiring an additional 2,684,470 shares in the last quarter. Bank of Nova Scotia boosted its position in Starbucks by 342.7% during the 4th quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock valued at $207,444,000 after acquiring an additional 1,672,656 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Starbucks by 432.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock valued at $195,825,000 after acquiring an additional 1,656,591 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Starbucks by 44.8% during the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after acquiring an additional 1,591,206 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,750 shares of company stock valued at $878,893. 1.98% of the stock is currently owned by company insiders.

Starbucks Price Performance

SBUX stock traded down $1.39 during trading on Friday, hitting $77.85. The stock had a trading volume of 13,198,994 shares, compared to its average volume of 10,447,203. The stock has a market capitalization of $88.18 billion, a P/E ratio of 21.45, a PEG ratio of 1.73 and a beta of 0.96. The company’s 50-day moving average price is $79.66 and its two-hundred day moving average price is $88.09. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66.

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

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is presently 62.81%.

Analysts Set New Price Targets

Several brokerages have issued reports on SBUX. Stifel Nicolaus dropped their target price on Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. HSBC dropped their target price on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Wells Fargo & Company dropped their target price on Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Finally, BTIG Research lowered their price objective on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $94.54.

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.