Starbucks Co. (NASDAQ:SBUX) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its holdings in Starbucks Co. (NASDAQ:SBUXGet Rating) by 9.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,444 shares of the coffee company’s stock after selling 3,468 shares during the period. Illinois Municipal Retirement Fund’s holdings in Starbucks were worth $2,649,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Public Investment Fund purchased a new position in shares of Starbucks in the second quarter worth approximately $482,273,000. Price T Rowe Associates Inc. MD increased its position in shares of Starbucks by 29.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 13,598,025 shares of the coffee company’s stock worth $1,038,753,000 after acquiring an additional 3,133,826 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Starbucks in the first quarter worth approximately $190,270,000. Arrowstreet Capital Limited Partnership increased its position in shares of Starbucks by 47.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,913,555 shares of the coffee company’s stock worth $446,986,000 after acquiring an additional 1,592,261 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Starbucks by 18.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 9,811,297 shares of the coffee company’s stock worth $892,535,000 after acquiring an additional 1,531,708 shares in the last quarter. Institutional investors and hedge funds own 69.16% of the company’s stock.

Starbucks Trading Up 1.1 %

Shares of SBUX stock opened at $106.21 on Tuesday. Starbucks Co. has a 1 year low of $68.39 and a 1 year high of $107.60. The firm’s fifty day simple moving average is $101.56 and its 200 day simple moving average is $91.74. The firm has a market capitalization of $121.91 billion, a P/E ratio of 37.66, a price-to-earnings-growth ratio of 2.22 and a beta of 0.89.

Starbucks (NASDAQ:SBUXGet Rating) last announced its earnings results on Thursday, November 3rd. The coffee company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. Starbucks had a net margin of 10.18% and a negative return on equity of 39.85%. The business had revenue of $8.41 billion for the quarter, compared to analyst estimates of $8.43 billion. Equities research analysts anticipate that Starbucks Co. will post 3.42 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Shareholders of record on Friday, February 10th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.00%. The ex-dividend date is Thursday, February 9th. Starbucks’s dividend payout ratio (DPR) is presently 75.18%.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Clara Shih sold 7,000 shares of the business’s stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $103.29, for a total value of $723,030.00. Following the sale, the director now owns 13,661 shares of the company’s stock, valued at approximately $1,411,044.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Michael Aaron Conway sold 15,320 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $99.14, for a total value of $1,518,824.80. Following the sale, the insider now owns 68,579 shares of the company’s stock, valued at approximately $6,798,922.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Clara Shih sold 7,000 shares of the company’s stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $103.29, for a total transaction of $723,030.00. Following the completion of the sale, the director now directly owns 13,661 shares in the company, valued at approximately $1,411,044.69. The disclosure for this sale can be found here. Insiders have sold 26,280 shares of company stock valued at $2,663,595 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Jefferies Financial Group downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research report on Wednesday, December 21st. Cowen boosted their price objective on shares of Starbucks from $104.00 to $112.00 and gave the company an “outperform” rating in a research report on Wednesday, January 4th. Barclays boosted their price objective on shares of Starbucks from $105.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, January 5th. BTIG Research boosted their price objective on shares of Starbucks from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 19th. Finally, Guggenheim boosted their price objective on shares of Starbucks from $92.00 to $103.00 in a research report on Friday, January 6th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $105.12.

About Starbucks

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Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America, International, Channel Development, and Corporate and Other. The North America segment focuses on the United States and Canada. The International segment is involved in China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America, and Caribbean.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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