Kentucky Retirement Systems Sells 6,411 Shares of Starbucks Co. (NASDAQ:SBUX)

Kentucky Retirement Systems decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 7.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,945 shares of the coffee company’s stock after selling 6,411 shares during the period. Kentucky Retirement Systems’ holdings in Starbucks were worth $7,696,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks in the 2nd quarter worth approximately $25,000. New Millennium Group LLC bought a new position in Starbucks in the second quarter worth $26,000. Stephens Consulting LLC boosted its holdings in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Starbucks in the 2nd quarter worth about $27,000. Finally, MFA Wealth Advisors LLC purchased a new position in Starbucks during the 2nd quarter valued at about $31,000. 72.29% of the stock is currently owned by institutional investors.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SBUX. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. BMO Capital Markets lifted their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. BTIG Research raised their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research report on Wednesday, August 21st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $102.81.

Starbucks Trading Down 0.2 %

NASDAQ SBUX opened at $98.42 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock has a market cap of $111.53 billion, a PE ratio of 29.73, a P/E/G ratio of 2.89 and a beta of 0.97. The stock’s 50 day moving average is $96.75 and its 200 day moving average is $86.19.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion during 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%. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.06 earnings per share. On average, analysts forecast that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.48%. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Starbucks Company 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.