Teacher Retirement System of Texas Purchases 21,705 Shares of Starbucks Corporation (SBUX)
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.
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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.
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