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

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 8.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 33,551 shares of the coffee company’s stock after selling 2,983 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Starbucks were worth $3,271,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks during the second quarter worth about $25,000. New Millennium Group LLC purchased a new stake in Starbucks in the 2nd quarter worth approximately $26,000. Stephens Consulting LLC grew its stake in shares of Starbucks by 498.2% during 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 shares of Starbucks during the 2nd quarter valued at approximately $27,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Starbucks in the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America cut their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Citigroup lifted their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Stifel Nicolaus increased their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. BTIG Research boosted their price objective on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Barclays decreased their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.81.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.98% of the stock is currently owned by insiders.

Starbucks Trading Down 0.2 %

Shares of SBUX opened at $98.42 on Friday. The firm has a market capitalization of $111.53 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.89 and a beta of 0.97. The firm’s fifty day simple moving average is $96.75 and its 200-day simple moving average is $86.19. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last posted 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 company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm earned $1.06 earnings per share. On average, analysts predict that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.48%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio is 73.72%.

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.