Ballast Inc. increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 5.5% in the first quarter, HoldingsChannel reports. The firm owned 8,605 shares of the coffee company’s stock after acquiring an additional 449 shares during the period. Ballast Inc.’s holdings in Starbucks were worth $639,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its position in Starbucks by 5,590.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,679,558 shares of the coffee company’s stock valued at $368,000 after acquiring an additional 23,263,399 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Starbucks by 0.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,579,438 shares of the coffee company’s stock valued at $874,515,000 after acquiring an additional 100,049 shares in the last quarter. Norges Bank acquired a new stake in Starbucks in the fourth quarter valued at approximately $807,368,000. Legal & General Group Plc grew its position in Starbucks by 1.4% in the fourth quarter. Legal & General Group Plc now owns 6,545,000 shares of the coffee company’s stock valued at $421,405,000 after acquiring an additional 91,187 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in Starbucks in the fourth quarter valued at approximately $352,796,000. 75.37% of the stock is owned by hedge funds and other institutional investors.

In related news, insider John Culver sold 63,937 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $78.04, for a total transaction of $4,989,643.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.98% of the company’s stock.

Several analysts have issued reports on the stock. Wells Fargo & Co downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $83.00 to $80.00 in a research report on Friday, April 26th. They noted that the move was a valuation call. BMO Capital Markets increased their target price on Starbucks from $60.00 to $70.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Wedbush reiterated a “hold” rating and set a $70.00 target price on shares of Starbucks in a research note on Thursday, April 18th. Oppenheimer reiterated an “outperform” rating and set a $72.00 target price (up from $70.00) on shares of Starbucks in a research note on Friday, January 25th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 target price (up from $70.00) on shares of Starbucks in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Starbucks has a consensus rating of “Buy” and a consensus target price of $73.88.

Shares of SBUX opened at $76.41 on Friday. Starbucks Co. has a 12-month low of $47.37 and a 12-month high of $79.65. The firm has a market cap of $92.55 billion, a P/E ratio of 31.57, a PEG ratio of 2.17 and a beta of 0.51. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 7.73.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, April 25th. The coffee company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Starbucks had a negative return on equity of 494.61% and a net margin of 11.87%. The firm had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same period last year, the business posted $0.53 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, analysts predict that Starbucks Co. will post 2.78 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, May 9th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.88%. The ex-dividend date is Wednesday, May 8th. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.

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About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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