Strs Ohio Sells 12,529 Shares of Starbucks Co. (NASDAQ:SBUX)

Strs Ohio decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 602,542 shares of the coffee company’s stock after selling 12,529 shares during the period. Strs Ohio owned approximately 0.05% of Starbucks worth $57,850,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SBUX. Norges Bank purchased a new stake in Starbucks during the fourth quarter valued at about $1,222,931,000. Moneta Group Investment Advisors LLC boosted its position in shares of Starbucks by 115,334.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock worth $842,569,000 after purchasing an additional 8,486,281 shares in the last quarter. Morgan Stanley boosted its position in shares of Starbucks by 46.3% in the 4th quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock worth $2,650,462,000 after purchasing an additional 8,451,599 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Starbucks in the 1st quarter worth approximately $190,270,000. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Starbucks in the 3rd quarter worth approximately $147,125,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 4,000 shares of company stock worth $375,665 over the last three months. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of SBUX opened at $86.20 on Monday. The firm has a market capitalization of $97.60 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48. The company’s fifty day moving average price is $91.86 and its 200-day moving average price is $94.61.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The company had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. Starbucks’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. As a group, research analysts anticipate that Starbucks Co. will post 4.05 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Analyst Ratings Changes

SBUX has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price objective on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday. BMO Capital Markets decreased their target price on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st. Piper Sandler reduced their price objective on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $105.00 target price on shares of Starbucks in a report on Monday, April 1st. Finally, BTIG Research decreased their target price on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and a consensus price target of $107.71.

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.