Retirement Systems of Alabama Boosts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Retirement Systems of Alabama boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 224.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 791,931 shares of the coffee company’s stock after purchasing an additional 547,967 shares during the quarter. Retirement Systems of Alabama’s holdings in Starbucks were worth $72,264,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Financial Life Planners bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $25,000. DT Investment Partners LLC boosted its position in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares during the period. FSA Wealth Management LLC acquired a new position in Starbucks during the 3rd quarter valued at approximately $49,000. Friedenthal Financial acquired a new position in Starbucks during the 3rd quarter valued at approximately $50,000. Finally, Capital Performance Advisors LLP acquired a new position in Starbucks during the 3rd quarter valued at approximately $71,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 2.3 %

Shares of NASDAQ:SBUX opened at $110.60 on Wednesday. The business has a 50 day moving average price of $96.31 and a 200 day moving average price of $93.85. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $111.07. The company has a market cap of $125.63 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 3.40 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 prior year, the business posted $0.90 earnings per share. Analysts anticipate that Starbucks Co. will post 3 EPS for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.21%. Starbucks’s dividend payout ratio (DPR) is 78.71%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wedbush boosted their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Barclays boosted their price target on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. BTIG Research boosted their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley boosted their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $105.33.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.09% of the company’s stock.

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.