Oregon Public Employees Retirement Fund Has $11 Million Stake in Starbucks Corporation $SBUX

Oregon Public Employees Retirement Fund boosted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 32.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,970 shares of the coffee company’s stock after purchasing an additional 31,805 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Starbucks were worth $10,995,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Game Plan Financial Advisors LLC bought a new position in shares of Starbucks in the 2nd quarter valued at about $25,000. Transce3nd LLC boosted its position in Starbucks by 270.3% during the second quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. Chelsea Counsel Co. bought a new position in Starbucks in the second quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC grew its stake in Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares in the last quarter. Finally, MTM Investment Management LLC acquired a new position in shares of Starbucks during the 2nd quarter worth approximately $28,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on SBUX. UBS Group set a $94.00 price objective on Starbucks and gave the company a “neutral” rating in a report on Tuesday, October 21st. Mizuho set a $86.00 price objective on shares of Starbucks and gave the company a “neutral” rating in a research report on Friday. TD Cowen reaffirmed a “hold” rating and issued a $84.00 target price on shares of Starbucks in a report on Monday, December 1st. Barclays reiterated an “overweight” rating and issued a $110.00 target price (up from $95.00) on shares of Starbucks in a research note on Wednesday. Finally, Wall Street Zen upgraded Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $102.12.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were purchased at an average cost of $85.00 per share, with a total value of $994,500.00. Following the acquisition, the director directly owned 53,096 shares in the company, valued at $4,513,160. This represents a 28.26% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.09% of the stock is owned by company insiders.

Starbucks Stock Performance

Shares of SBUX stock opened at $88.88 on Friday. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The company has a market capitalization of $101.07 billion, a price-to-earnings ratio of 54.20, a PEG ratio of 1.86 and a beta of 0.97. The company has a 50-day simple moving average of $85.13 and a 200 day simple moving average of $87.13.

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

Starbucks Dividend Announcement

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

Starbucks Profile

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.