Starbucks Co. (NASDAQ:SBUX) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 251,818 shares of the coffee company’s stock after selling 7,167 shares during the period. Retirement Systems of Alabama’s holdings in Starbucks were worth $24,177,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Willow Creek Wealth Management Inc. boosted its holdings in shares of Starbucks by 3.0% during the third quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after purchasing an additional 97 shares during the last quarter. Valley Brook Capital Group Inc. boosted its stake in Starbucks by 2.4% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock worth $383,000 after buying an additional 100 shares during the last quarter. Charles Schwab Investment Advisory Inc. grew its holdings in Starbucks by 4.6% in the 3rd quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock valued at $206,000 after buying an additional 100 shares during the period. Herold Advisors Inc. lifted its holdings in shares of Starbucks by 4.3% during the 3rd quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock worth $221,000 after acquiring an additional 100 shares during the period. Finally, Rodgers Brothers Inc. boosted its position in shares of Starbucks by 1.2% in the third quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock worth $755,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.1 %

Shares of SBUX opened at $88.33 on Tuesday. The firm has a market cap of $100.01 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.48 and a beta of 0.98. The business’s 50 day moving average is $90.27 and its two-hundred day moving average is $94.27. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). The company had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.75 earnings per share. On average, equities analysts expect that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.58%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Insider Transactions at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 7,250 shares of company stock valued at $651,738. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SBUX. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a report on Tuesday, January 16th. TD Cowen restated a “hold” rating and set a $100.00 price target on shares of Starbucks in a research note on Thursday, April 11th. Stifel Nicolaus reduced their price objective on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $105.00 target price on shares of Starbucks in a report on Monday, April 1st. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Starbucks presently has an average rating of “Hold” and an average price target of $106.55.

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.