State of Wisconsin Investment Board lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,168,229 shares of the coffee company’s stock after selling 159,649 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.15% of Starbucks worth $124,521,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Middleton & Co Inc MA boosted its stake in shares of Starbucks by 11.8% in the 3rd quarter. Middleton & Co Inc MA now owns 98,873 shares of the coffee company’s stock valued at $5,310,000 after purchasing an additional 10,458 shares during the last quarter. WINTON GROUP Ltd boosted its stake in shares of Starbucks by 29.7% in the 2nd quarter. WINTON GROUP Ltd now owns 27,191 shares of the coffee company’s stock valued at $1,586,000 after purchasing an additional 6,225 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Starbucks by 3,076.5% in the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock valued at $809,917,000 after purchasing an additional 13,452,551 shares during the last quarter. Honeywell International Inc. boosted its stake in Starbucks by 11.9% during the 3rd quarter. Honeywell International Inc. now owns 709,062 shares of the coffee company’s stock worth $38,084,000 after acquiring an additional 75,400 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Starbucks by 7.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 275,000 shares of the coffee company’s stock worth $14,770,000 after acquiring an additional 20,000 shares during the last quarter. 73.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Starbucks stock opened at $56.31 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01. The company has a market cap of $81,201.51, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 1.60 and a beta of 0.66. Starbucks Co. has a fifty-two week low of $52.58 and a fifty-two week high of $64.87.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were issued a $0.30 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.13%. Starbucks’s dividend payout ratio (DPR) is presently 39.60%.
In other news, insider Clifford Burrows sold 162,826 shares of Starbucks stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total value of $9,284,338.52. Following the sale, the insider now directly owns 331,829 shares in the company, valued at $18,920,889.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Myron E. Ullman III sold 25,000 shares of Starbucks stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the completion of the sale, the director now owns 39,000 shares in the company, valued at $2,126,280. The disclosure for this sale can be found here. Insiders sold 247,664 shares of company stock worth $14,243,602 over the last quarter. 3.40% of the stock is owned by corporate insiders.
Several research analysts recently weighed in on SBUX shares. Vetr raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $62.03 price objective on the stock in a research note on Monday, January 29th. Mizuho lowered shares of Starbucks from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $68.00 to $75.00 in a research note on Thursday, February 1st. They noted that the move was a valuation call. Tigress Financial started coverage on shares of Starbucks in a research note on Wednesday, December 27th. They set a “buy” rating on the stock. Wedbush reissued a “buy” rating and set a $70.00 price objective on shares of Starbucks in a research note on Monday, January 22nd. They noted that the move was a valuation call. Finally, Oppenheimer reissued a “buy” rating and set a $66.00 price objective on shares of Starbucks in a research note on Friday, January 19th. Thirteen equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Starbucks currently has an average rating of “Buy” and a consensus target price of $64.63.
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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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