Starbucks Co. (NASDAQ:SBUX) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 410,854 shares of the coffee company's stock after selling 18,078 shares during the quarter. State of Tennessee Department of Treasury's holdings in Starbucks were worth $37,490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new stake in Starbucks in the fourth quarter worth $62,000. Arizona State Retirement System increased its stake in Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock worth $29,881,000 after buying an additional 2,722 shares during the period. West Michigan Advisors LLC bought a new stake in Starbucks during the 4th quarter valued at about $265,000. Wernau Asset Management Inc. bought a new stake in Starbucks during the 4th quarter valued at about $258,000. Finally, OFI Invest Asset Management purchased a new stake in Starbucks in the 4th quarter valued at about $9,497,000. Institutional investors own 72.29% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SBUX. Baird R W downgraded shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. BMO Capital Markets upped their target price on Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, January 29th. Wedbush raised their price target on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Stifel Nicolaus lowered their price objective on shares of Starbucks from $114.00 to $103.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Robert W. Baird reissued a "neutral" rating and set a $85.00 target price (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $103.00.

Starbucks Trading Up 1.3 %

Shares of NASDAQ SBUX traded up $1.05 during midday trading on Thursday, reaching $83.86. The company had a trading volume of 6,791,606 shares, compared to its average volume of 11,506,738. The stock has a market cap of $95.26 billion, a P/E ratio of 27.05, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The business's 50-day simple moving average is $96.81 and its 200 day simple moving average is $97.87.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates 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 period last year, the firm earned $0.90 EPS. Analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 2.91%. Starbucks's dividend payout ratio is presently 78.71%.

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.