Illinois Municipal Retirement Fund Has $2.65 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Illinois Municipal Retirement Fund trimmed its position in Starbucks Co. (NASDAQ:SBUX – Get Rating) by 9.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,444 shares of the coffee company’s stock after selling 3,468 shares during the period. Illinois Municipal Retirement Fund’s holdings in Starbucks were worth $2,649,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. New Millennium Group LLC bought a new stake in Starbucks during the 2nd quarter worth approximately $25,000. Castle Wealth Management LLC bought a new stake in Starbucks during the 2nd quarter worth approximately $28,000. WFA of San Diego LLC bought a new stake in Starbucks during the 2nd quarter worth approximately $32,000. LS Investment Advisors LLC bought a new stake in Starbucks during the 2nd quarter worth approximately $33,000. Finally, Spartan Planning & Wealth Management bought a new stake in Starbucks during the 3rd quarter worth approximately $42,000. 69.16% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of Starbucks stock opened at $106.21 on Tuesday. Starbucks Co. has a 1 year low of $68.39 and a 1 year high of $107.60. The company has a market capitalization of $121.91 billion, a price-to-earnings ratio of 37.66, a P/E/G ratio of 2.22 and a beta of 0.89. The business has a fifty day simple moving average of $101.56 and a two-hundred day simple moving average of $91.74.

Starbucks (NASDAQ:SBUX – Get Rating) last posted its earnings results on Thursday, November 3rd. The coffee company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. Starbucks had a negative return on equity of 39.85% and a net margin of 10.18%. The company had revenue of $8.41 billion during the quarter, compared to the consensus estimate of $8.43 billion. As a group, equities analysts anticipate that Starbucks Co. will post 3.42 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 24th. Stockholders of record on Friday, February 10th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, February 9th. Starbucks’s dividend payout ratio is currently 75.18%.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 3,960 shares of Starbucks stock in a transaction on Monday, January 9th. The stock was sold at an average price of $106.50, for a total transaction of $421,740.00. Following the completion of the sale, the chief financial officer now owns 57,962 shares of the company’s stock, valued at $6,172,953. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Michael Aaron Conway sold 15,320 shares of the firm’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $99.14, for a total value of $1,518,824.80. Following the transaction, the insider now owns 68,579 shares in the company, valued at $6,798,922.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,960 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $106.50, for a total value of $421,740.00. Following the completion of the transaction, the chief financial officer now owns 57,962 shares in the company, valued at approximately $6,172,953. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,280 shares of company stock valued at $2,663,595. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of research reports. Jefferies Financial Group cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Wednesday, December 21st. Cowen raised their price target on shares of Starbucks from $104.00 to $112.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 4th. Deutsche Bank Aktiengesellschaft cut shares of Starbucks from a “buy” rating to a “hold” rating and raised their price target for the stock from $100.00 to $106.00 in a research note on Monday, December 5th. BTIG Research raised their price target on shares of Starbucks from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 19th. Finally, StockNews.com raised shares of Starbucks from a “hold” rating to a “buy” rating in a research note on Friday, January 13th. Thirteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Starbucks presently has a consensus rating of “Hold” and an average price target of $105.12.

Starbucks Company Profile

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Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America, International, Channel Development, and Corporate and Other. The North America segment focuses on the United States and Canada. The International segment is involved in China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America, and Caribbean.