State of Tennessee Department of Treasury Sells 18,078 Shares of Starbucks Co. (NASDAQ:SBUX)

State of Tennessee Department of Treasury decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 410,854 shares of the coffee company’s stock after selling 18,078 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Starbucks were worth $37,490,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Financial Life Planners purchased a new stake in Starbucks in the 4th quarter worth $25,000. Graney & King LLC purchased a new stake in shares of Starbucks during the fourth quarter worth about $26,000. Collier Financial bought a new stake in Starbucks during the 4th quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. purchased a new position in Starbucks in the 4th quarter worth approximately $27,000. Finally, Marshall Investment Management LLC bought a new position in Starbucks in the 4th quarter worth approximately $30,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SBUX shares. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Stifel Nicolaus decreased their price target on shares of Starbucks from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. UBS Group increased their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. BMO Capital Markets lifted their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company increased their price target on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $104.79.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $80.68 on Tuesday. The company has a market cap of $91.64 billion, a P/E ratio of 26.03, a PEG ratio of 3.59 and a beta of 1.00. The firm has a 50-day simple moving average of $98.60 and a two-hundred day simple moving average of $98.18. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (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 quarter in the previous year, the company posted $0.90 earnings per share. As a group, equities research analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 3.02%. Starbucks’s payout ratio is 78.71%.

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.