State of Alaska Department of Revenue Sells 5,760 Shares of Starbucks Co. (NASDAQ:SBUX)

State of Alaska Department of Revenue trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 138,234 shares of the coffee company’s stock after selling 5,760 shares during the quarter. State of Alaska Department of Revenue’s holdings in Starbucks were worth $12,632,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Axxcess Wealth Management LLC purchased a new position in shares of Starbucks during the third quarter valued at approximately $1,468,000. Legacy Advisors LLC lifted its holdings in shares of Starbucks by 13.9% during the third quarter. Legacy Advisors LLC now owns 28,465 shares of the coffee company’s stock valued at $2,598,000 after purchasing an additional 3,467 shares during the last quarter. Lakeshore Financial Planning Inc. purchased a new position in shares of Starbucks during the third quarter valued at approximately $205,000. Seven Eight Capital LP lifted its holdings in shares of Starbucks by 231.7% during the third quarter. Seven Eight Capital LP now owns 92,661 shares of the coffee company’s stock valued at $8,457,000 after purchasing an additional 64,724 shares during the last quarter. Finally, Scotia Capital Inc. raised its holdings in Starbucks by 9.4% in the 3rd quarter. Scotia Capital Inc. now owns 439,633 shares of the coffee company’s stock worth $40,127,000 after acquiring an additional 37,686 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Down 0.7 %

Shares of SBUX stock opened at $76.26 on Thursday. The company’s fifty day simple moving average is $79.22 and its two-hundred day simple moving average is $87.66. The stock has a market cap of $86.38 billion, a P/E ratio of 21.01, a PEG ratio of 1.68 and a beta of 0.94. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The business had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 earnings per share. On average, analysts anticipate that Starbucks Co. will post 3.58 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent analyst reports. Robert W. Baird decreased their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Stifel Nicolaus decreased their price objective on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. Wedbush restated a “neutral” rating and issued a $81.00 price objective on shares of Starbucks in a report on Friday, June 28th. William Blair downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Finally, Evercore ISI cut their target price on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Starbucks has a consensus rating of “Hold” and a consensus price target of $94.54.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. Insiders have sold 10,750 shares of company stock valued at $878,893 in the last ninety days. 1.98% of the stock is owned by company insiders.

Starbucks Company 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.