Principal Financial Group Inc. Sells 106,053 Shares of Starbucks Corporation (NASDAQ:SBUX)

Principal Financial Group Inc. cut its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,817,896 shares of the coffee company's stock after selling 106,053 shares during the period. Principal Financial Group Inc. owned approximately 0.25% of Starbucks worth $276,407,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Starbucks in the fourth quarter worth $1,244,812,000. Capital World Investors boosted its position in Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company's stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares during the last quarter. FMR LLC boosted its position in Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company's stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Starbucks by 167.6% during the 4th quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company's stock valued at $519,230,000 after purchasing an additional 3,563,942 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Starbucks during the 4th quarter valued at about $284,283,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Cowen reissued a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a report on Thursday, May 29th. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a research note on Tuesday, March 18th. Baird R W downgraded shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Guggenheim decreased their target price on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, Citigroup lifted their target price on Starbucks from $84.00 to $95.00 and gave the company a "neutral" rating in a research report on Thursday, June 12th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $98.23.

Starbucks Stock Up 0.3%

NASDAQ SBUX traded up $0.26 on Friday, reaching $94.44. The company had a trading volume of 3,557,273 shares, compared to its average volume of 10,930,626. The stock has a market capitalization of $107.32 billion, a PE ratio of 34.22, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02. Starbucks Corporation has a 12 month low of $71.55 and a 12 month high of $117.46. The firm's 50 day moving average price is $87.93 and its 200 day moving average price is $94.28.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The firm had revenue of $8.76 billion for the quarter, compared to analysts' expectations of $8.90 billion. Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The company's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 EPS. On average, research analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

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.