Retirement Systems of Alabama Sells 7,167 Shares of Starbucks Co. (NASDAQ:SBUX)

Retirement Systems of Alabama decreased its position in Starbucks Co. (NASDAQ:SBUX) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 251,818 shares of the coffee company’s stock after selling 7,167 shares during the period. Retirement Systems of Alabama’s holdings in Starbucks were worth $24,177,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. grew its position in Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Atticus Wealth Management LLC lifted its holdings in Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Evolution Advisers Inc. acquired a new position in Starbucks in the fourth quarter valued at about $36,000. Tennessee Valley Asset Management Partners acquired a new position in Starbucks in the fourth quarter valued at about $38,000. Finally, Financial Connections Group Inc. bought a new stake in Starbucks during the fourth quarter worth about $38,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.1 %

NASDAQ:SBUX opened at $88.33 on Tuesday. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48. The firm has a market capitalization of $100.01 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.48 and a beta of 0.98. The business’s 50-day moving average price is $90.27 and its two-hundred day moving average price is $94.27.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. Sell-side analysts predict that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.58%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Analyst Ratings Changes

Several research analysts have recently commented on SBUX shares. Wells Fargo & Company reissued an “overweight” rating and issued a $105.00 target price on shares of Starbucks in a report on Monday, April 1st. Barclays decreased their target price on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. BTIG Research cut their price target on Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Citigroup lowered their price objective on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Finally, Robert W. Baird reduced their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $106.55.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 7,250 shares of company stock worth $651,738. Company insiders own 1.98% of the company’s stock.

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.