Starbucks Co. (NASDAQ:SBUX) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 6.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 60,806 shares of the coffee company's stock after selling 4,541 shares during the quarter. Maryland State Retirement & Pension System's holdings in Starbucks were worth $5,549,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC purchased a new position in Starbucks during the fourth quarter worth about $62,000. Arizona State Retirement System lifted its holdings in shares of Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock worth $29,881,000 after acquiring an additional 2,722 shares during the period. West Michigan Advisors LLC acquired a new stake in shares of Starbucks in the fourth quarter worth approximately $265,000. Wernau Asset Management Inc. purchased a new stake in Starbucks in the fourth quarter valued at approximately $258,000. Finally, Investment Management Corp of Ontario increased its position in Starbucks by 48.6% during the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company's stock worth $3,664,000 after purchasing an additional 12,300 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded down $1.35 during trading on Monday, reaching $95.72. The stock had a trading volume of 8,258,116 shares, compared to its average volume of 10,607,232. The firm's 50 day moving average price is $105.41 and its two-hundred day moving average price is $99.41. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The stock has a market cap of $108.73 billion, a PE ratio of 30.88, a P/E/G ratio of 3.59 and a beta of 0.99.

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

Analysts Set New Price Targets

A number of analysts have recently commented on SBUX shares. Argus upgraded Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective for the company in a report on Tuesday, March 18th. Wells Fargo & Company boosted their target price on Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. UBS Group raised their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, January 29th. Stifel Nicolaus boosted their price objective on shares of Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Finally, BMO Capital Markets raised their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of "Moderate Buy" and an average target price of $106.12.

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.