State of Alaska Department of Revenue Sells 2,400 Shares of Starbucks Co. (NASDAQ:SBUX)

State of Alaska Department of Revenue trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,259 shares of the coffee company’s stock after selling 2,400 shares during the period. State of Alaska Department of Revenue’s holdings in Starbucks were worth $11,794,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brookstone Capital Management raised its stake in Starbucks by 4.3% during the 3rd quarter. Brookstone Capital Management now owns 29,658 shares of the coffee company’s stock worth $2,891,000 after buying an additional 1,232 shares during the period. Somerset Trust Co increased its stake in Starbucks by 5.1% during the 3rd quarter. Somerset Trust Co now owns 4,933 shares of the coffee company’s stock worth $481,000 after purchasing an additional 240 shares in the last quarter. Morton Capital Management LLC CA acquired a new stake in Starbucks during the 3rd quarter worth approximately $270,000. SS&H Financial Advisors Inc. bought a new stake in shares of Starbucks during the third quarter worth $209,000. Finally, Pinnacle Bancorp Inc. boosted its stake in Starbucks by 6.7% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 6,013 shares of the coffee company’s stock worth $586,000 after purchasing an additional 380 shares during the period. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

Starbucks Stock Down 0.5 %

Shares of NASDAQ:SBUX opened at $111.70 on Friday. The stock has a market cap of $126.88 billion, a PE ratio of 36.03, a P/E/G ratio of 3.40 and a beta of 1.00. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $112.42. The business has a 50 day moving average of $96.73 and a 200-day moving average of $94.20.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period last year, the business posted $0.90 EPS. Equities research analysts expect that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is 78.71%.

Analyst Ratings Changes

Several analysts have issued reports on the company. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Citigroup lifted their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. BTIG Research raised their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley boosted their price objective on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.33.

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.