Securian Asset Management Inc. Trims Stock Holdings in Starbucks Corporation $SBUX

Securian Asset Management Inc. decreased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 1.4% in the 2nd quarter, Holdings Channel.com reports. The firm 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 & Exchange Commission.

Several other large investors have also recently modified their holdings of SBUX. Game Plan Financial Advisors LLC bought a new position in shares of Starbucks in the second quarter valued at approximately $25,000. Chelsea Counsel Co. bought a new position in shares of Starbucks in the second quarter valued at approximately $26,000. Hughes Financial Services LLC bought a new position in shares of Starbucks in the first quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 159 shares during the period. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Starbucks in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of analyst reports. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price objective for the company. in a research report on Thursday, July 17th. Evercore ISI restated an “outperform” rating and issued a $105.00 price objective (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Finally, Bank of America boosted their price target on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.84.

Starbucks Price Performance

SBUX stock opened at $84.53 on Tuesday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The stock has a market cap of $96.09 billion, a PE ratio of 36.44, a P/E/G ratio of 4.22 and a beta of 1.01. The firm has a 50 day simple moving average of $85.57 and a two-hundred day simple moving average of $87.41.

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

Starbucks Increases Dividend

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

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.