California State Teachers Retirement System Sells 56,119 Shares of Starbucks Co. (NASDAQ:SBUX)

California State Teachers Retirement System lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,821,139 shares of the coffee company’s stock after selling 56,119 shares during the period. California State Teachers Retirement System’s holdings in Starbucks were worth $166,179,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SBUX. Vanguard Group Inc. increased its position in Starbucks by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company’s stock worth $10,138,442,000 after buying an additional 784,432 shares during the period. Capital World Investors raised its stake in Starbucks by 20.1% in the 4th quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock worth $5,011,796,000 after purchasing an additional 9,174,682 shares in the last quarter. FMR LLC grew its position in shares of Starbucks by 27.0% during the 4th quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock worth $2,292,989,000 after purchasing an additional 5,348,790 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Starbucks by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 24,826,001 shares of the coffee company’s stock valued at $2,259,516,000 after buying an additional 548,245 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Starbucks by 4.7% in the 4th quarter. Wellington Management Group LLP now owns 15,868,817 shares of the coffee company’s stock valued at $1,448,030,000 after acquiring an additional 718,880 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Stifel Nicolaus dropped their price target on Starbucks from $114.00 to $103.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Jefferies Financial Group raised shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price target for the company in a report on Wednesday, April 9th. BMO Capital Markets upped their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Wells Fargo & Company lowered their price target on Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Finally, Barclays decreased their target price on Starbucks from $124.00 to $106.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.00.

Starbucks Stock Performance

Starbucks stock opened at $83.81 on Monday. The firm has a 50 day moving average price of $96.22 and a two-hundred day moving average price of $97.83. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market cap of $95.20 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period last year, the business earned $0.90 EPS. As a group, equities research analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.91%. 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.