State of New Jersey Common Pension Fund D Purchases 532 Shares of Starbucks Co. (NASDAQ:SBUX)

State of New Jersey Common Pension Fund D lifted its position in Starbucks Co. (NASDAQ:SBUX) by 0.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 419,385 shares of the coffee company’s stock after buying an additional 532 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Starbucks were worth $40,886,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board bought a new stake in shares of Starbucks in the 1st quarter worth $415,167,000. Marshall Wace LLP increased its holdings in Starbucks by 1,466.3% in the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after buying an additional 3,136,992 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new position in Starbucks in the 2nd quarter worth about $243,910,000. Capital World Investors bought a new position in Starbucks during the 1st quarter valued at about $257,721,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Starbucks by 108.1% during the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after acquiring an additional 2,324,847 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 1.5 %

Shares of NASDAQ:SBUX traded up $1.43 during trading on Friday, reaching $97.55. The company’s stock had a trading volume of 6,118,742 shares, compared to its average volume of 7,867,492. The stock has a market capitalization of $110.54 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 2.83 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The firm’s 50 day simple moving average is $96.07 and its two-hundred day simple moving average is $85.79.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the firm earned $1.06 earnings per share. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. Research analysts anticipate that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is currently 68.88%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SBUX. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Citigroup increased their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Stifel Nicolaus lifted their price objective on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays lowered their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, Morgan Stanley raised their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.32.

Insider Buying and Selling at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

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.