Cigna Investments Inc. New Sells 123 Shares of Starbucks Co. (NASDAQ:SBUX)

Cigna Investments Inc. New cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,554 shares of the coffee company’s stock after selling 123 shares during the period. Cigna Investments Inc. New’s holdings in Starbucks were worth $1,054,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp increased its stake in shares of Starbucks by 1.0% during the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after buying an additional 437,218 shares during the period. Geode Capital Management LLC grew its stake in Starbucks by 1.4% in the third quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after purchasing an additional 333,004 shares during the period. FMR LLC grew its stake in Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares during the period. Wellington Management Group LLP grew its stake in Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. Finally, Fisher Asset Management LLC grew its stake in Starbucks by 2.9% in the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after purchasing an additional 327,734 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Down 0.7 %

NASDAQ:SBUX opened at $111.45 on Tuesday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $112.62. The stock has a 50-day moving average price of $97.12 and a 200 day moving average price of $94.84. The stock has a market capitalization of $126.60 billion, a P/E ratio of 35.95, a P/E/G ratio of 3.52 and a beta of 1.00.

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

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is 78.71%.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of several recent research reports. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Redburn Atlantic reissued a “sell” rating and issued a $77.00 target price (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Wedbush increased their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Stifel Nicolaus increased their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, BMO Capital Markets increased their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.