California Public Employees Retirement System Raises Position in Starbucks Co. (NASDAQ:SBUX)

California Public Employees Retirement System lifted its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 16.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,801,396 shares of the coffee company's stock after buying an additional 254,363 shares during the period. California Public Employees Retirement System owned approximately 0.16% of Starbucks worth $164,377,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SBUX. Rockefeller Capital Management L.P. boosted its position in Starbucks by 9.7% in the third quarter. Rockefeller Capital Management L.P. now owns 352,561 shares of the coffee company's stock valued at $34,371,000 after buying an additional 31,116 shares in the last quarter. Fred Alger Management LLC boosted its holdings in shares of Starbucks by 4.1% during the 3rd quarter. Fred Alger Management LLC now owns 44,390 shares of the coffee company's stock valued at $4,328,000 after acquiring an additional 1,740 shares in the last quarter. Acropolis Investment Management LLC grew its position in Starbucks by 6.7% during the 3rd quarter. Acropolis Investment Management LLC now owns 4,693 shares of the coffee company's stock worth $458,000 after acquiring an additional 293 shares during the last quarter. Encompass More Asset Management acquired a new position in Starbucks in the 3rd quarter worth about $243,000. Finally, Erste Asset Management GmbH bought a new position in Starbucks in the third quarter valued at about $55,096,000. Institutional investors and hedge funds own 72.29% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts have recently weighed in on SBUX shares. Wedbush increased their price target on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Stifel Nicolaus lifted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Barclays raised their price target on shares of Starbucks from $119.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. UBS Group increased their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Finally, BMO Capital Markets boosted their target price on Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.12.

Starbucks Stock Performance

NASDAQ:SBUX traded up $0.14 on Tuesday, hitting $98.23. The stock had a trading volume of 5,864,791 shares, compared to its average volume of 11,117,903. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The firm's fifty day simple moving average is $105.81 and its two-hundred day simple moving average is $99.54. The stock has a market cap of $111.58 billion, a P/E ratio of 31.69, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the prior year, the business earned $0.90 earnings per share. Equities research analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

About Starbucks

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.