Teacher Retirement System of Texas grew its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 64.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,843 shares of the coffee company's stock after purchasing an additional 26,164 shares during the period. Teacher Retirement System of Texas' holdings in Starbucks were worth $6,099,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Quest Partners LLC bought a new position in Starbucks in the 3rd quarter worth about $115,000. Meridian Wealth Management LLC bought a new position in shares of Starbucks during the 3rd quarter worth $1,095,000. Camden National Bank bought a new stake in shares of Starbucks in the 3rd quarter valued at about $216,000. Nicolet Advisory Services LLC purchased a new stake in Starbucks during the third quarter worth $270,000. Finally, Great Valley Advisor Group Inc. boosted its position in Starbucks by 11.0% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 19,002 shares of the coffee company's stock valued at $1,852,000 after acquiring an additional 1,879 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.
Starbucks Trading Down 0.7 %
NASDAQ:SBUX traded down $0.67 on Tuesday, hitting $95.05. 3,858,702 shares of the company's stock traded hands, compared to its average volume of 10,606,525. The firm has a 50-day moving average price of $105.45 and a 200-day moving average price of $99.44. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The company has a market cap of $107.97 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.
Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate 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 period last year, the company posted $0.90 earnings per share. On average, research analysts forecast that Starbucks Co. will post 2.99 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on SBUX shares. Wedbush raised their price target on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target on the stock in a report on Tuesday, March 18th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Stifel Nicolaus raised their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Finally, BMO Capital Markets boosted their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of "Moderate Buy" and an average price target of $106.12.
Check Out Our Latest Report on Starbucks
Starbucks Profile
(
Free Report)
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.
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