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

Kentucky Retirement Systems cut its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,945 shares of the coffee company's stock after selling 6,411 shares during the quarter. Kentucky Retirement Systems' holdings in Starbucks were worth $7,696,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks during the second quarter valued at $25,000. New Millennium Group LLC purchased a new position in shares of Starbucks in the 2nd quarter valued at about $26,000. Stephens Consulting LLC raised its holdings in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company's stock worth $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC purchased a new position in Starbucks during the second quarter worth approximately $27,000. Finally, Olistico Wealth LLC acquired a new stake in Starbucks in the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded down $0.20 during midday trading on Friday, reaching $98.42. 8,119,864 shares of the company's stock were exchanged, compared to its average volume of 11,147,972. The stock has a market cap of $111.53 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 2.89 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm's 50 day simple moving average is $96.75 and its two-hundred day simple moving average is $86.19.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts' consensus estimates of $0.80. The business had revenue of $9.07 billion during the quarter, compared to analysts' expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the business earned $1.06 earnings per share. Equities research analysts predict that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Starbucks's previous quarterly dividend of $0.57. Starbucks's payout ratio is currently 73.72%.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent analyst reports. Redburn Atlantic reiterated a "sell" rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday. Barclays dropped their target price on shares of Starbucks from $110.00 to $108.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. UBS Group upped their price target on shares of Starbucks from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Wedbush cut their price objective on Starbucks from $98.00 to $95.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Finally, Baird R W upgraded Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has a consensus rating of "Moderate Buy" and an average target price of $102.81.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the business's stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company's stock, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.98% of the stock is owned by corporate insiders.

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.