Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Utah Retirement Systems

Utah Retirement Systems grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 188,004 shares of the coffee company’s stock after buying an additional 600 shares during the quarter. Utah Retirement Systems’ holdings in Starbucks were worth $17,155,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Strategic Financial Concepts LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $62,000. Arizona State Retirement System increased its stake in Starbucks by 0.8% in the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after purchasing an additional 2,722 shares in the last quarter. West Michigan Advisors LLC purchased a new position in Starbucks in the 4th quarter valued at approximately $265,000. Wernau Asset Management Inc. purchased a new position in Starbucks in the 4th quarter valued at approximately $258,000. Finally, OFI Invest Asset Management purchased a new position in Starbucks in the 4th quarter valued at approximately $9,497,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of SBUX opened at $84.85 on Wednesday. The stock’s 50-day moving average is $95.08 and its two-hundred day moving average is $97.66. The stock has a market cap of $96.38 billion, a PE ratio of 27.37, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 EPS. On average, research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s dividend payout ratio is currently 78.71%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SBUX shares. Stifel Nicolaus dropped their price objective on Starbucks from $114.00 to $103.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th. Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target for the company in a research report on Wednesday, April 9th. Citigroup dropped their price target on Starbucks from $100.00 to $88.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Baird R W downgraded Starbucks from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.60.

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.