Starbucks Corporation $SBUX Stock Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 14.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,873 shares of the coffee company’s stock after acquiring an additional 8,825 shares during the period. Maryland State Retirement & Pension System’s holdings in Starbucks were worth $6,565,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Meeder Asset Management Inc. acquired a new stake in shares of Starbucks in the second quarter valued at approximately $25,000. Black Cypress Capital Management LLC purchased a new position in Starbucks during the second quarter worth approximately $27,000. Center for Financial Planning Inc. lifted its position in Starbucks by 125.2% during the third quarter. Center for Financial Planning Inc. now owns 295 shares of the coffee company’s stock worth $28,000 after buying an additional 164 shares in the last quarter. Bangor Savings Bank boosted its stake in Starbucks by 207.5% during the second quarter. Bangor Savings Bank now owns 326 shares of the coffee company’s stock worth $33,000 after buying an additional 220 shares during the last quarter. Finally, William Mack & Associates Inc. acquired a new position in Starbucks during the third quarter worth $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In related news, CEO Brady Brewer sold 2,229 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $110.00, for a total transaction of $245,190.00. Following the sale, the chief executive officer directly owned 68,691 shares of the company’s stock, valued at $7,556,010. This represents a 3.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,687 shares of company stock valued at $694,874 in the last ninety days. Insiders own 0.03% of the company’s stock.

Top Starbucks Stories

Investors following SBUX have been watching these stories:

• Positive Sentiment: CEO Brian Niccol highlighted plans to attract afternoon customers with protein and collagen drinks and to improve the drive-through experience. These initiatives could create new sales opportunities, though their impact will depend on customer demand and execution. Starbucks’ plan to get the afternoon crowd? Protein and collagen.
• Positive Sentiment: Starbucks is giving nearly 200,000 employees Bean Stock grants, while eligible North American baristas and shift supervisors are receiving sales-performance bonuses. The incentives may help engage staff and support the “Back to Starbucks” turnaround, although they also add costs. Starbucks is Putting More Money in Employees’ Pockets
• Negative Sentiment: South Korean sales figures have renewed concern about the company’s performance in that market, with one report linking the figures to pressure on the shares. Starbucks Stock Slips as Korean Sales Figures Come In

Starbucks Stock Down 2.4%

NASDAQ:SBUX opened at $107.26 on Friday. Starbucks Corporation has a 52 week low of $81.97 and a 52 week high of $111.50. The stock’s fifty day moving average is $99.34 and its two-hundred day moving average is $100.30. The stock has a market capitalization of $122.28 billion, a price-to-earnings ratio of 48.53, a price-to-earnings-growth ratio of 1.82 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, October 29th. The coffee company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. The business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Starbucks had a negative return on equity of 38.61% and a net margin of 6.66%. The company’s revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. On average, sell-side analysts expect that Starbucks Corporation will post 3.22 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from Starbucks’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, November 13th. Starbucks’s dividend payout ratio (DPR) is presently 112.22%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SBUX. Gordon Haskett upped their target price on Starbucks from $110.00 to $118.00 and gave the company a “hold” rating in a report on Thursday, July 30th. Wells Fargo & Company reduced their price target on Starbucks from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. Seaport Research Partners began coverage on Starbucks in a report on Wednesday, September 16th. They set a “neutral” rating on the stock. CICC Research boosted their price target on shares of Starbucks from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Finally, BNP Paribas Exane upped their price objective on shares of Starbucks from $87.00 to $92.00 and gave the company an “underperform” rating in a report on Thursday, July 30th. Twenty-one investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Starbucks presently has an average rating of “Hold” and a consensus target price of $108.83.

Starbucks Company Profile

Starbucks Corporation is a global coffee company that roasts, markets and sells coffee and other beverages, along with food and related merchandise. Its offerings include brewed coffee, espresso-based drinks, teas and packaged coffee products. The company serves customers through company-operated and licensed stores, as well as through retail and food-service partnerships. Its stores also sell items such as mugs and coffee-making equipment. Founded in Seattle in 1971, Starbucks operates in North America and international markets, including China.