New York State Teachers Retirement System Reduces Holdings in Starbucks Co. (NASDAQ:SBUX)

New York State Teachers Retirement System lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,005,642 shares of the coffee company’s stock after selling 58,492 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Starbucks worth $98,040,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks in the 2nd quarter valued at $25,000. New Millennium Group LLC purchased a new position in Starbucks during the second quarter worth about $26,000. Stephens Consulting LLC boosted its stake in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Starbucks in the 2nd quarter valued at approximately $27,000. Finally, Olistico Wealth LLC purchased a new stake in Starbucks in the second quarter valued at approximately $31,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

Starbucks Stock Down 0.0 %

SBUX traded down $0.04 during trading on Wednesday, hitting $97.35. 875,181 shares of the stock were exchanged, compared to its average volume of 11,276,754. The firm has a market capitalization of $110.32 billion, a P/E ratio of 27.28, a PEG ratio of 2.59 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The stock has a fifty day moving average price of $95.68 and a two-hundred day moving average price of $85.20.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 EPS. Analysts predict that Starbucks Co. will post 3.34 EPS for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.51%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is currently 68.35%.

Analysts Set New Price Targets

SBUX has been the subject of a number of research reports. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research note on Wednesday, October 23rd. Barclays raised their price objective on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Finally, Wedbush reissued a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.48.

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.