Teachers Retirement System of The State of Kentucky Has $27.56 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Teachers Retirement System of The State of Kentucky lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 59.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 282,651 shares of the coffee company’s stock after purchasing an additional 105,894 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Starbucks were worth $27,556,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp grew its stake in Starbucks by 1.0% during the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after buying an additional 437,218 shares in the last quarter. Geode Capital Management LLC lifted its stake in Starbucks by 1.4% during the third quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after purchasing an additional 333,004 shares during the last quarter. FMR LLC boosted its holdings in shares of Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after buying an additional 7,598,146 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Starbucks by 2.9% in the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after acquiring an additional 327,734 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SBUX. Wells Fargo & Company boosted their target price on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and increased their target price for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. BTIG Research boosted their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Citigroup boosted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Bank of America decreased their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Trading Down 1.2 %

SBUX stock opened at $98.16 on Wednesday. The firm’s 50-day moving average price is $98.12 and its two-hundred day moving average price is $89.05. The stock has a market capitalization of $111.29 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 2.94 and a beta of 0.97. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 EPS. Equities analysts predict that Starbucks Co. will post 3.11 EPS for the current year.

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.