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

California State Teachers Retirement System lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,821,139 shares of the coffee company’s stock after selling 56,119 shares during the quarter. California State Teachers Retirement System owned 0.16% of Starbucks worth $166,179,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SBUX. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective on the stock in a research note on Wednesday, April 9th. Barclays lowered their target price on Starbucks from $124.00 to $106.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird reiterated a “neutral” rating and set a $85.00 price target (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Finally, Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $103.00.

Starbucks Price Performance

Starbucks stock opened at $83.81 on Monday. The firm has a 50-day moving average of $96.22 and a 200-day moving average of $97.83. The company has a market cap of $95.20 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share 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 in the prior year, the business earned $0.90 earnings per share. As a group, sell-side analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Friday, May 16th. Starbucks’s dividend payout ratio is currently 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.