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

California State Teachers Retirement System lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 3.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 about 0.16% of Starbucks worth $166,179,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Starbucks by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 111,106,209 shares of the coffee company's stock valued at $10,138,442,000 after acquiring an additional 784,432 shares in the last quarter. Capital World Investors increased its position in shares of Starbucks by 20.1% in the fourth 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 during the last quarter. FMR LLC raised its stake in Starbucks by 27.0% in the fourth 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 lifted its position in Starbucks by 2.3% during 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 purchasing an additional 548,245 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Starbucks by 4.7% in 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 buying an additional 718,880 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of Starbucks stock traded up $1.96 during midday trading on Thursday, hitting $82.01. The company had a trading volume of 18,308,636 shares, compared to its average volume of 11,445,657. The company has a 50 day moving average of $94.45 and a 200 day moving average of $97.54. The stock has a market capitalization of $93.16 billion, a P/E ratio of 26.45, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. Starbucks's revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The company also recently declared 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. This represents a $2.44 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks's dividend payout ratio (DPR) is currently 78.71%.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research analyst reports. BMO Capital Markets dropped their price objective on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday. Royal Bank of Canada cut their price objective on Starbucks from $100.00 to $95.00 and set an "outperform" rating for the company in a report on Wednesday. Guggenheim decreased their price objective on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a report on Tuesday. Argus raised Starbucks from a "hold" rating to a "buy" rating and set a $115.00 target price for the company in a research note on Tuesday, March 18th. Finally, Jefferies Financial Group upgraded shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target on the stock in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $98.15.

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.