State of Alaska Department of Revenue Sells 6,020 Shares of Starbucks Corporation $SBUX

State of Alaska Department of Revenue decreased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,109 shares of the coffee company’s stock after selling 6,020 shares during the quarter. State of Alaska Department of Revenue’s holdings in Starbucks were worth $12,022,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Starbucks by 0.7% during the second quarter. Vanguard Group Inc. now owns 112,861,623 shares of the coffee company’s stock valued at $10,341,511,000 after purchasing an additional 802,053 shares in the last quarter. State Street Corp raised its holdings in Starbucks by 1.2% in the 2nd quarter. State Street Corp now owns 47,513,332 shares of the coffee company’s stock valued at $4,353,647,000 after buying an additional 544,534 shares during the last quarter. Geode Capital Management LLC boosted its position in Starbucks by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 25,846,634 shares of the coffee company’s stock worth $2,357,815,000 after buying an additional 99,983 shares during the period. Norges Bank bought a new stake in Starbucks during the 2nd quarter worth approximately $1,246,316,000. Finally, Invesco Ltd. increased its position in Starbucks by 11.2% in the 2nd quarter. Invesco Ltd. now owns 12,757,954 shares of the coffee company’s stock valued at $1,169,011,000 after acquiring an additional 1,286,451 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.8%

SBUX opened at $88.88 on Friday. The company has a fifty day moving average price of $85.13 and a two-hundred day moving average price of $87.13. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The company has a market cap of $101.07 billion, a P/E ratio of 54.20, a price-to-earnings-growth ratio of 1.86 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The firm had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. During the same period last year, the business posted $0.80 EPS. The company’s revenue was up 5.5% on a year-over-year basis. On average, research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, February 13th. Starbucks’s dividend payout ratio is currently 151.22%.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent research reports. TD Cowen reiterated a “hold” rating and set a $84.00 price target on shares of Starbucks in a report on Monday, December 1st. BTIG Research reaffirmed a “buy” rating and set a $105.00 target price on shares of Starbucks in a report on Thursday, October 30th. UBS Group set a $94.00 price target on Starbucks and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Morgan Stanley set a $105.00 price target on Starbucks and gave the company an “overweight” rating in a research note on Monday, October 20th. Finally, Wall Street Zen raised Starbucks from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $102.12.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the business’s stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the purchase, the director owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. This trade represents a 28.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

About Starbucks

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.