Teachers Retirement System of The State of Kentucky Reduces Stock Holdings in Starbucks Corporation (NASDAQ:SBUX)

Teachers Retirement System of The State of Kentucky lessened its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 35.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 175,450 shares of the coffee company's stock after selling 96,543 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Starbucks were worth $17,210,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. TrinityPoint Wealth LLC increased its position in shares of Starbucks by 2.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock valued at $312,000 after acquiring an additional 89 shares during the period. Pioneer Trust Bank N A OR boosted its stake in shares of Starbucks by 0.8% during the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock valued at $1,032,000 after purchasing an additional 92 shares in the last quarter. Foster Dykema Cabot & Partners LLC boosted its stake in shares of Starbucks by 10.6% during the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock valued at $93,000 after purchasing an additional 97 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Starbucks by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock valued at $261,000 after purchasing an additional 97 shares in the last quarter. Finally, Taurus Asset Management LLC boosted its stake in shares of Starbucks by 0.5% during the 4th quarter. Taurus Asset Management LLC now owns 21,895 shares of the coffee company's stock valued at $1,998,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. CICC Research initiated coverage on shares of Starbucks in a research note on Monday, June 30th. They set an "outperform" rating and a $100.00 target price on the stock. Citigroup reissued a "neutral" rating and set a $100.00 price objective (up from $95.00) on shares of Starbucks in a report on Monday, July 14th. TD Securities reissued a "hold" rating and set a $90.00 price objective on shares of Starbucks in a report on Monday, June 23rd. Evercore ISI reiterated an "outperform" rating and issued a $105.00 price target (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Finally, Cowen reiterated a "hold" rating on shares of Starbucks in a research report on Tuesday, June 24th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $98.58.

Starbucks Trading Down 2.3%

NASDAQ SBUX traded down $2.24 on Thursday, hitting $93.68. 3,840,498 shares of the company's stock traded hands, compared to its average volume of 10,278,236. The firm's 50-day moving average price is $90.74 and its two-hundred day moving average price is $94.62. Starbucks Corporation has a 1-year low of $72.72 and a 1-year high of $117.46. The firm has a market capitalization of $106.46 billion, a PE ratio of 33.93, a P/E/G ratio of 6.69 and a beta of 1.02.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The company had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. During the same period in the previous year, the firm posted $0.68 EPS. Starbucks's revenue was up 2.3% compared to the same quarter last year. On average, research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, August 15th. Starbucks's payout ratio is 88.41%.

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.