Illinois Municipal Retirement Fund Purchases 45,319 Shares of Starbucks Co. (NASDAQ:SBUX)

Illinois Municipal Retirement Fund grew its position in Starbucks Co. (NASDAQ:SBUX) by 130.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 80,137 shares of the coffee company’s stock after buying an additional 45,319 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Starbucks were worth $7,694,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SBUX. Riggs Asset Managment Co. Inc. lifted its holdings 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 in the last quarter. Atticus Wealth Management LLC lifted its holdings in Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares in the last quarter. Financial Connections Group Inc. acquired a new position in Starbucks during the 4th quarter worth $38,000. Tennessee Valley Asset Management Partners acquired a new position in Starbucks during the 4th quarter worth $38,000. Finally, Fortitude Family Office LLC acquired a new position in Starbucks during the 4th quarter worth $40,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 7,000 shares of company stock valued at $629,738 in the last three months. 1.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on SBUX. BTIG Research reduced their price objective on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Stephens reiterated an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Barclays dropped their target price on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. TD Cowen restated a “hold” rating and issued a $100.00 price objective on shares of Starbucks in a research report on Thursday, April 11th. Finally, Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research report on Tuesday, January 16th. Fourteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Starbucks has a consensus rating of “Hold” and an average price target of $106.68.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $87.87 on Wednesday. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48. The company has a market capitalization of $99.49 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97. The company has a 50-day simple moving average of $90.68 and a 200 day simple moving average of $94.39.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $0.75 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.59%. Starbucks’s dividend payout ratio is currently 60.96%.

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.