Retirement Systems of Alabama grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 18.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 828,807 shares of the coffee company’s stock after acquiring an additional 128,293 shares during the quarter. Retirement Systems of Alabama owned 0.06% of Starbucks worth $47,598,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of SBUX. ProShare Advisors LLC increased its stake in shares of Starbucks by 15.9% in the second quarter. ProShare Advisors LLC now owns 537,258 shares of the coffee company’s stock worth $31,328,000 after buying an additional 73,667 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Starbucks by 0.7% in the second quarter. PNC Financial Services Group Inc. now owns 798,463 shares of the coffee company’s stock worth $46,560,000 after buying an additional 5,387 shares during the period. Thrivent Financial For Lutherans increased its stake in shares of Starbucks by 679.6% in the second quarter. Thrivent Financial For Lutherans now owns 1,796,830 shares of the coffee company’s stock worth $104,773,000 after buying an additional 1,566,340 shares during the period. Howard Hughes Medical Institute increased its stake in shares of Starbucks by 40.7% in the second quarter. Howard Hughes Medical Institute now owns 83,977 shares of the coffee company’s stock worth $4,897,000 after buying an additional 24,296 shares during the period. Finally, Ken Stern & Associates Inc. increased its stake in shares of Starbucks by 0.4% in the second quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock worth $330,000 after buying an additional 23 shares during the period. 73.49% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently commented on SBUX. Goldman Sachs downgraded shares of Starbucks from a “conviction-buy” rating to a “buy” rating and decreased their target price for the stock from $73.00 to $68.00 in a research note on Friday, January 26th. BTIG Research reaffirmed a “buy” rating and issued a $64.00 target price on shares of Starbucks in a research note on Friday, January 26th. Vetr raised shares of Starbucks from a “buy” rating to a “strong-buy” rating and set a $62.03 target price on the stock in a research note on Monday, February 5th. Tigress Financial reaffirmed a “buy” rating on shares of Starbucks in a research note on Tuesday, January 2nd. Finally, BidaskClub upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $64.63.
In related news, Director Craig Weatherup sold 59,838 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total value of $3,596,263.80. Following the transaction, the director now owns 26,500 shares in the company, valued at approximately $1,592,650. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Clifford Burrows sold 162,826 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the completion of the transaction, the insider now owns 331,829 shares in the company, valued at approximately $18,920,889.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 247,664 shares of company stock worth $14,243,602. Company insiders own 3.48% of the company’s stock.
Shares of Starbucks stock opened at $58.47 on Thursday. Starbucks Co. has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The company has a market cap of $81,946.48, a price-to-earnings ratio of 19.30, a PEG ratio of 1.61 and a beta of 0.66. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The firm had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the previous year, the business posted $0.52 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. sell-side analysts forecast that Starbucks Co. will post 2.49 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Wednesday, February 7th. Starbucks’s dividend payout ratio (DPR) is presently 39.60%.
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Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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