Securian Asset Management Inc. Sells 815 Shares of Starbucks Corporation $SBUX

Securian Asset Management Inc. trimmed its holdings in Starbucks Corporation (NASDAQ:SBUX) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,315 shares of the coffee company’s stock after selling 815 shares during the period. Securian Asset Management Inc.’s holdings in Starbucks were worth $5,435,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in SBUX. Brighton Jones LLC lifted its stake in shares of Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after buying an additional 81,952 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Starbucks by 21.9% in the first quarter. GAMMA Investing LLC now owns 20,591 shares of the coffee company’s stock valued at $2,020,000 after purchasing an additional 3,703 shares during the last quarter. Advisor Resource Council purchased a new stake in shares of Starbucks in the first quarter valued at about $505,000. Childress Capital Advisors LLC raised its holdings in shares of Starbucks by 10.1% in the first quarter. Childress Capital Advisors LLC now owns 2,705 shares of the coffee company’s stock valued at $265,000 after purchasing an additional 249 shares during the last quarter. Finally, Ellis Investment Partners LLC purchased a new stake in shares of Starbucks in the first quarter valued at about $202,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SBUX shares. Sanford C. Bernstein increased their target price on shares of Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Cowen reiterated a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. Stifel Nicolaus increased their target price on shares of Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. Royal Bank Of Canada increased their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. Finally, Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $102.84.

Starbucks Trading Down 1.0%

Starbucks stock opened at $84.53 on Tuesday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The business’s 50 day simple moving average is $85.57 and its 200 day simple moving average is $87.41. The company has a market cap of $96.09 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 4.22 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the previous year, the company posted $0.93 EPS. Starbucks’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.62 dividend. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. Starbucks’s dividend payout ratio is 105.17%.

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.