Starbucks Corporation $SBUX Stake Raised by Retirement Systems of Alabama

Retirement Systems of Alabama grew its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 7.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 769,949 shares of the coffee company’s stock after buying an additional 55,493 shares during the period. Retirement Systems of Alabama owned 0.07% of Starbucks worth $70,550,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Assetmark Inc. raised its holdings in shares of Starbucks by 45.5% during the second quarter. Assetmark Inc. now owns 284,012 shares of the coffee company’s stock valued at $26,024,000 after buying an additional 88,852 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in Starbucks by 41.2% during the second quarter. Hantz Financial Services Inc. now owns 260,535 shares of the coffee company’s stock worth $23,873,000 after purchasing an additional 75,978 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in Starbucks by 98.9% during the second quarter. Arkadios Wealth Advisors now owns 22,636 shares of the coffee company’s stock worth $2,074,000 after purchasing an additional 11,255 shares in the last quarter. World Investment Advisors raised its holdings in Starbucks by 10.7% during the second quarter. World Investment Advisors now owns 80,648 shares of the coffee company’s stock worth $7,390,000 after purchasing an additional 7,782 shares in the last quarter. Finally, Daymark Wealth Partners LLC raised its holdings in Starbucks by 329.1% during the second quarter. Daymark Wealth Partners LLC now owns 50,166 shares of the coffee company’s stock worth $4,597,000 after purchasing an additional 38,474 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Starbucks stock opened at $84.17 on Thursday. The firm has a market cap of $95.68 billion, a price-to-earnings ratio of 36.28, a price-to-earnings-growth ratio of 4.34 and a beta of 1.01. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm’s 50 day moving average price is $84.68 and its two-hundred day moving average price is $87.50.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.During the same quarter last year, the business posted $0.80 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. As a group, equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is presently 105.17%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SBUX shares. Zacks Research raised Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Barclays dropped their target price on Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. UBS Group set a $94.00 target price on Starbucks and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Morgan Stanley set a $105.00 target price on Starbucks and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $115.00 target price (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $101.12.

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.