Starbucks Co. (NASDAQ:SBUX) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 509,549 shares of the coffee company’s stock after selling 8,054 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Starbucks were worth $49,676,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SBUX. RFG Advisory LLC increased its holdings in shares of Starbucks by 15.0% in the 2nd quarter. RFG Advisory LLC now owns 11,908 shares of the coffee company’s stock valued at $927,000 after purchasing an additional 1,555 shares in the last quarter. LVW Advisors LLC increased its stake in Starbucks by 6.7% in the 2nd quarter. LVW Advisors LLC now owns 2,649 shares of the coffee company’s stock valued at $206,000 after purchasing an additional 166 shares in the last quarter. Cooper Financial Group increased its position in shares of Starbucks by 3.7% in the second quarter. Cooper Financial Group now owns 8,200 shares of the coffee company’s stock valued at $638,000 after buying an additional 290 shares in the last quarter. Silvia Mccoll Wealth Management LLC grew its stake in Starbucks by 5.0% in the 2nd quarter. Silvia Mccoll Wealth Management LLC now owns 2,916 shares of the coffee company’s stock valued at $227,000 after acquiring an additional 140 shares during the last quarter. Finally, Agate Pass Investment Management LLC increased its stake in shares of Starbucks by 9.8% during the 2nd quarter. Agate Pass Investment Management LLC now owns 3,657 shares of the coffee company’s stock worth $285,000 after purchasing an additional 326 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on SBUX. TD Cowen reiterated a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. BTIG Research boosted their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and cut their price objective for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Finally, Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $103.77.

Starbucks Trading Up 0.9 %

Shares of SBUX opened at $100.11 on Monday. The firm has a market cap of $113.50 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 2.94 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The stock has a 50 day moving average of $98.09 and a 200-day moving average of $88.90.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the previous year, the firm earned $1.06 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, sell-side analysts predict that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.44%. Starbucks’s dividend payout ratio is 73.72%.

Starbucks 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.