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

State of Alaska Department of Revenue cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Financial Life Planners bought a new position in Starbucks in the fourth quarter valued at about $25,000. DT Investment Partners LLC raised its holdings in Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in Starbucks during the 3rd quarter worth approximately $49,000. Friedenthal Financial bought a new stake in Starbucks during the 3rd quarter worth approximately $50,000. Finally, Hager Investment Management Services LLC acquired a new position in Starbucks in the 4th quarter valued at approximately $56,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wedbush boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. BMO Capital Markets increased their price target on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Bank of America cut their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Finally, Citigroup boosted their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Stock Performance

SBUX stock opened at $111.70 on Friday. The company has a market capitalization of $126.88 billion, a P/E ratio of 36.03, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $112.42. The business has a 50-day simple moving average of $96.73 and a two-hundred day simple moving average of $94.20.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results 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 company posted $0.90 earnings per share. As a group, sell-side analysts forecast that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Insiders Place Their Bets

In other Starbucks 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 value of $143,849.64. Following the completion of the transaction, the chief financial officer now owns 65,648 shares in the company, valued at $6,503,747.36. This represents a 2.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by insiders.

Starbucks 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.