New York State Common Retirement Fund Has $164.47 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

New York State Common Retirement Fund trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,713,014 shares of the coffee company’s stock after selling 86,819 shares during the quarter. New York State Common Retirement Fund’s holdings in Starbucks were worth $164,466,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. boosted its holdings in Starbucks by 1,578.9% during the third 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 last quarter. Atticus Wealth Management LLC grew its holdings in Starbucks by 153.8% during the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Financial Connections Group Inc. bought a new stake in Starbucks in the fourth quarter valued at approximately $38,000. Tennessee Valley Asset Management Partners acquired a new stake in Starbucks in the fourth quarter worth $38,000. Finally, Fortitude Family Office LLC bought a new position in shares of Starbucks during the fourth quarter worth $40,000. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

NASDAQ SBUX traded up $0.57 during trading on Monday, reaching $88.18. 8,608,142 shares of the company’s stock were exchanged, compared to its average volume of 8,459,721. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48. The stock has a market capitalization of $99.84 billion, a P/E ratio of 23.58, a PEG ratio of 1.42 and a beta of 0.97. The business has a 50 day moving average price of $90.80 and a 200-day moving average price of $94.42.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results 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). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the company posted $0.75 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. On average, analysts forecast that Starbucks Co. will post 4.01 earnings per share for the current year.

Starbucks Dividend Announcement

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

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a filing with the SEC, which is available at 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.

Analyst Ratings Changes

SBUX has been the topic of several recent analyst reports. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Friday. BTIG Research dropped their target price on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Guggenheim lowered their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Friday. Finally, Citigroup cut their price objective on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Fourteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Starbucks has a consensus rating of “Hold” and a consensus price target of $106.68.

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.