Teacher Retirement System of Texas raised its position in Starbucks Corporation (NASDAQ:SBUX) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 783,071 shares of the coffee company’s stock after acquiring an additional 21,705 shares during the quarter. Teacher Retirement System of Texas owned 0.05% of Starbucks Corporation worth $45,661,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SBUX. Jacobi Capital Management LLC grew its position in Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after acquiring an additional 50 shares in the last quarter. Gradient Investments LLC grew its position in Starbucks Corporation by 2.5% in the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after acquiring an additional 46 shares in the last quarter. Sharkey Howes & Javer grew its position in Starbucks Corporation by 8.5% in the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after acquiring an additional 150 shares in the last quarter. IHT Wealth Management LLC grew its position in Starbucks Corporation by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after acquiring an additional 187 shares in the last quarter. Finally, TrimTabs Asset Management LLC acquired a new stake in Starbucks Corporation in the first quarter valued at approximately $122,000. 70.82% of the stock is owned by institutional investors.

In other news, Director Jorgen Vig Knudstorp purchased 18,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were acquired at an average price of $55.30 per share, with a total value of $995,400.00. Following the completion of the purchase, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $995,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Culver sold 64,776 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the transaction, the insider now directly owns 390,341 shares in the company, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

Several analysts have issued reports on SBUX shares. Wedbush downgraded shares of Starbucks Corporation from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $61.00 to $65.00 in a research report on Wednesday, June 14th. They noted that the move was a valuation call. BidaskClub cut Starbucks Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Jefferies Group LLC reiterated a “buy” rating and set a $65.00 target price on shares of Starbucks Corporation in a research note on Friday, June 16th. KeyCorp initiated coverage on Starbucks Corporation in a research note on Thursday, June 22nd. They set an “overweight” rating and a $68.00 target price for the company. Finally, Vetr upgraded Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $67.14 target price for the company in a research note on Thursday, June 22nd. Thirteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $64.24.

COPYRIGHT VIOLATION WARNING: This story was originally posted by Daily Political and is owned by of Daily Political. If you are accessing this story on another site, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this story can be viewed at https://www.dailypolitical.com/2017/10/12/teacher-retirement-system-of-texas-purchases-21705-shares-of-starbucks-corporation-sbux.html.

Starbucks Corporation (SBUX) opened at 55.64 on Thursday. The stock’s 50 day moving average price is $54.52 and its 200-day moving average price is $57.75. The firm has a market capitalization of $80.34 billion, a price-to-earnings ratio of 28.09 and a beta of 0.78. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87.

Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 earnings per share. On average, equities research analysts anticipate that Starbucks Corporation will post $2.06 earnings per share for the current fiscal year.

Starbucks Corporation Profile

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

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

Institutional Ownership by Quarter for Starbucks Corporation (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corporation and related companies with MarketBeat.com's FREE daily email newsletter.