Palouse Capital Management Inc. Cuts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Palouse Capital Management Inc. lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,277 shares of the coffee company’s stock after selling 1,218 shares during the quarter. Starbucks makes up 2.9% of Palouse Capital Management Inc.’s holdings, making the stock its 4th largest holding. Palouse Capital Management Inc.’s holdings in Starbucks were worth $4,314,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SBUX. Kuhn & Co Investment Counsel boosted its stake in Starbucks by 2.3% during the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after purchasing an additional 96 shares in the last quarter. Jmac Enterprises LLC lifted its holdings in shares of Starbucks by 1.0% in the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock valued at $912,000 after purchasing an additional 103 shares in the last quarter. Aspire Capital Advisors LLC lifted its holdings in shares of Starbucks by 0.5% in the fourth quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock valued at $2,118,000 after purchasing an additional 104 shares in the last quarter. Riverview Trust Co increased its stake in shares of Starbucks by 3.4% in the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after acquiring an additional 105 shares during the last quarter. Finally, Optas LLC increased its stake in shares of Starbucks by 0.6% in the fourth quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock worth $1,525,000 after acquiring an additional 105 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’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 in the company, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Starbucks Trading Down 0.4 %

SBUX opened at $112.55 on Friday. The company has a market cap of $127.85 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 3.52 and a beta of 1.00. The company’s 50 day moving average is $98.28 and its 200 day moving average is $95.87. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $113.47.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the previous year, the firm earned $0.90 EPS. As a group, analysts predict that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.17%. Starbucks’s dividend payout ratio is presently 78.71%.

Wall Street Analyst Weigh In

Several research firms have commented on SBUX. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. BMO Capital Markets raised their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Citigroup raised their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

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.