Starbucks Co. (NASDAQ:SBUX) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 419,182 shares of the coffee company’s stock after selling 203 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Starbucks were worth $38,250,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Financial Life Planners acquired a new stake in shares of Starbucks during the 4th quarter valued at approximately $25,000. Collier Financial bought a new position in Starbucks during the 4th quarter worth $27,000. DT Investment Partners LLC grew its stake in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares in the last quarter. FSA Wealth Management LLC bought a new position in shares of Starbucks in the third quarter worth $49,000. Finally, Friedenthal Financial acquired a new stake in shares of Starbucks in the third quarter valued at $50,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SBUX has been the subject of several research analyst reports. Redburn Atlantic restated a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. UBS Group upped their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Barclays increased their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Wells Fargo & Company raised their target price on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, BMO Capital Markets raised their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.

Starbucks Stock Performance

NASDAQ SBUX opened at $112.55 on Monday. The stock has a fifty day moving average of $98.28 and a 200-day moving average of $96.01. The stock has a market capitalization of $127.85 billion, a P/E ratio of 36.31, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $113.47.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the previous year, the firm earned $0.90 earnings per share. Equities research analysts forecast that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.17%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

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.