California Public Employees Retirement System Has $261.41 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

California Public Employees Retirement System lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,722,714 shares of the coffee company’s stock after selling 7,453 shares during the quarter. California Public Employees Retirement System owned 0.24% of Starbucks worth $261,408,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SBUX. Riggs Asset Managment Co. Inc. raised its stake in shares of Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC raised its stake in shares of Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Financial Connections Group Inc. bought a new stake in shares of Starbucks during the 4th quarter worth approximately $38,000. Tennessee Valley Asset Management Partners bought a new stake in Starbucks in the 4th quarter valued at $38,000. Finally, Fortitude Family Office LLC bought a new stake in Starbucks in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 7,000 shares of company stock valued at $629,738. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.3 %

NASDAQ:SBUX traded down $0.29 during trading hours on Tuesday, reaching $87.89. 1,151,122 shares of the company traded hands, compared to its average volume of 8,364,376. The business’s 50-day moving average price is $90.80 and its two-hundred day moving average price is $94.42. The stock has a market capitalization of $99.51 billion, a P/E ratio of 23.58, a P/E/G ratio of 1.42 and a beta of 0.98. Starbucks Co. has a 1 year low of $84.29 and a 1 year high of $115.48.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS. As a group, equities analysts anticipate that Starbucks Co. will post 4.01 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wedbush reaffirmed a “neutral” rating and issued a $95.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Stifel Nicolaus dropped their target price on Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Morgan Stanley lowered their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. TD Cowen reiterated a “hold” rating and issued a $100.00 target price on shares of Starbucks in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. lowered their target price on Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, March 19th. Fourteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $106.68.

About Starbucks

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.