Pinnacle Bancorp Inc. Sells 210 Shares of Starbucks Co. (NASDAQ:SBUX)

Pinnacle Bancorp Inc. trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,803 shares of the coffee company’s stock after selling 210 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Starbucks were worth $530,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dakota Wealth Management boosted its holdings in shares of Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after buying an additional 300 shares during the last quarter. Weil Company Inc. raised its stake in Starbucks by 31.2% in the 3rd 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 in the last quarter. Maia Wealth LLC boosted 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 during the period. Aljian Capital Management LLC grew its holdings in shares of 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 purchasing an additional 9,936 shares in the last quarter. Finally, Investment Management Corp of Ontario grew its stake in Starbucks by 48.6% during the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after buying an additional 12,300 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX stock opened at $93.08 on Thursday. The firm’s fifty day simple moving average is $95.98 and its 200-day simple moving average is $91.34. The company has a market capitalization of $105.53 billion, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 2.73 and a beta of 0.99. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the firm posted $1.06 EPS. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Starbucks Co. will post 3.1 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SBUX. BTIG Research upped their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Royal Bank of Canada assumed coverage on Starbucks in a research report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price target on the stock. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Citigroup lifted their price objective on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.77.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.98% of the company’s stock.

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.