Retirement Systems of Alabama Has $23.78 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Retirement Systems of Alabama lessened its position in Starbucks Co. (NASDAQ:SBUX) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 243,964 shares of the coffee company’s stock after selling 5,899 shares during the period. Retirement Systems of Alabama’s holdings in Starbucks were worth $23,784,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Dakota Wealth Management lifted its holdings in Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after acquiring an additional 300 shares in the last quarter. Weil Company Inc. lifted its holdings in shares of Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after purchasing an additional 8,222 shares in the last quarter. Maia Wealth LLC grew its position in shares of Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after purchasing an additional 7,596 shares during the period. Aljian Capital Management LLC increased its stake in Starbucks by 48.5% during the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after purchasing an additional 9,936 shares in the last quarter. Finally, Investment Management Corp of Ontario raised its holdings in Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after buying an additional 12,300 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Down 0.4 %

SBUX opened at $97.42 on Friday. The stock’s fifty day simple moving average is $98.24 and its 200 day simple moving average is $89.52. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The stock has a market cap of $110.45 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 2.89 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 earnings per share. Equities analysts forecast that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

Insider Transactions at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This represents a 2.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on SBUX. Wedbush reduced their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company increased their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a report on Wednesday, August 21st. BTIG Research lifted their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, TD Cowen restated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

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.