Starbucks Co. (NASDAQ:SBUX) Shares Purchased by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board raised its stake in Starbucks Co. (NASDAQ:SBUX) by 12.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,898 shares of the coffee company’s stock after acquiring an additional 7,200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Starbucks were worth $6,086,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SBUX. Vima LLC purchased a new position in Starbucks in the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks in the fourth quarter worth about $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $27,000. Riggs Asset Managment Co. Inc. increased its stake in 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 buying an additional 300 shares during the period. Finally, Fairman Group LLC purchased a new stake in Starbucks during the 4th quarter worth approximately $30,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their target price on shares of Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Wells Fargo & Company reduced their price objective on Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Jefferies Financial Group lowered their target price on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. TD Cowen restated a “hold” rating and issued a $85.00 price target on shares of Starbucks in a research report on Thursday, June 13th. Finally, Bank of America upped their target price on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $94.54.

Starbucks Stock Down 1.7 %

Shares of SBUX stock traded down $1.39 on Friday, reaching $77.85. The company’s stock had a trading volume of 13,207,542 shares, compared to its average volume of 10,825,160. Starbucks Co. has a 12-month low of $71.80 and a 12-month high of $107.66. The company has a market capitalization of $88.18 billion, a P/E ratio of 21.45, a PEG ratio of 1.70 and a beta of 0.96. The stock’s 50 day simple moving average is $79.66 and its 200-day simple moving average is $88.02.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 earnings per share. Research analysts expect that Starbucks Co. will post 3.59 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Activity

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Monday, April 15th. The shares were 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 legal filing with the SEC, which is available at the SEC website. In other news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,750 shares of company stock worth $878,893. Insiders own 1.98% 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.