Teachers Retirement System of The State of Kentucky decreased its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,993 shares of the coffee company's stock after selling 10,658 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Starbucks were worth $24,819,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in Starbucks in the fourth quarter worth approximately $25,000. Graney & King LLC acquired a new stake in shares of Starbucks during the fourth quarter worth $26,000. Collier Financial acquired a new position in shares of Starbucks in the 4th quarter valued at $27,000. Runnymede Capital Advisors Inc. purchased a new position in Starbucks in the 4th quarter worth about $27,000. Finally, Marshall Investment Management LLC purchased a new stake in Starbucks during the fourth quarter valued at about $30,000. 72.29% of the stock is owned by institutional investors.
Starbucks Trading Down 0.1 %
Shares of NASDAQ:SBUX traded down $0.05 during midday trading on Friday, hitting $83.81. The company had a trading volume of 5,797,243 shares, compared to its average volume of 11,483,988. The firm has a fifty day simple moving average of $96.81 and a 200 day simple moving average of $97.87. The stock has a market cap of $95.20 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.
Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the business posted $0.90 EPS. Equities analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.
Starbucks Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.91%. Starbucks's dividend payout ratio (DPR) is currently 78.71%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on SBUX shares. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. BMO Capital Markets increased their price objective on Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. UBS Group lifted their target price on Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Citigroup dropped their price objective on shares of Starbucks from $100.00 to $88.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Baird R W downgraded shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $103.00.
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About Starbucks
(
Free Report)
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.
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