Treasurer of the State of North Carolina Buys 3,130 Shares of Starbucks Co. (NASDAQ:SBUX)

Treasurer of the State of North Carolina lifted its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 0.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 498,511 shares of the coffee company's stock after buying an additional 3,130 shares during the period. Treasurer of the State of North Carolina's holdings in Starbucks were worth $45,489,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SBUX. Executive Wealth Management LLC purchased a new position in shares of Starbucks in the 3rd quarter worth $334,000. Vestcor Inc grew its position in shares of Starbucks by 5.0% during the third quarter. Vestcor Inc now owns 22,316 shares of the coffee company's stock worth $2,176,000 after buying an additional 1,054 shares in the last quarter. Brophy Wealth Management LLC acquired a new stake in shares of Starbucks in the 3rd quarter valued at about $549,000. Prestige Wealth Management Group LLC increased its holdings in Starbucks by 61.0% in the third quarter. Prestige Wealth Management Group LLC now owns 726 shares of the coffee company's stock valued at $71,000 after buying an additional 275 shares during the last quarter. Finally, Financial Avengers Inc. lifted its stake in Starbucks by 10.0% during the third quarter. Financial Avengers Inc. now owns 41,761 shares of the coffee company's stock worth $4,071,000 after purchasing an additional 3,809 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SBUX. Robert W. Baird reissued a "neutral" rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a research note on Tuesday, March 18th. Wells Fargo & Company boosted their price objective on Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 25th. Barclays lifted their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Finally, Baird R W downgraded Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $104.24.

Starbucks Stock Down 2.2 %

Starbucks stock traded down $1.84 during trading hours on Tuesday, hitting $83.65. The stock had a trading volume of 2,852,503 shares, compared to its average volume of 11,441,039. The company has a 50-day moving average of $101.63 and a two-hundred day moving average of $98.70. The company has a market cap of $95.02 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period last year, the firm earned $0.90 earnings per share. As a group, analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.92%. The ex-dividend date is Friday, May 16th. Starbucks's dividend payout ratio is currently 78.71%.

Starbucks 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.