Starbucks Co. (NASDAQ:SBUX) Position Cut by State of Michigan Retirement System

State of Michigan Retirement System trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 307,659 shares of the coffee company’s stock after selling 1,000 shares during the period. State of Michigan Retirement System’s holdings in Starbucks were worth $28,074,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Kuhn & Co Investment Counsel lifted its position in Starbucks by 2.3% in the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock worth $387,000 after purchasing an additional 96 shares during the period. Jmac Enterprises LLC lifted its position in Starbucks by 1.0% in the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock worth $912,000 after purchasing an additional 103 shares during the period. Aspire Capital Advisors LLC lifted its position in Starbucks by 0.5% in the fourth quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock worth $2,118,000 after purchasing an additional 104 shares during the period. Optas LLC lifted its position in Starbucks by 0.6% in the fourth quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock worth $1,525,000 after purchasing an additional 105 shares during the period. Finally, Boomfish Wealth Group LLC lifted its position in Starbucks by 0.7% in the fourth quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock worth $1,399,000 after purchasing an additional 108 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Down 0.3 %

NASDAQ SBUX opened at $115.41 on Tuesday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The company has a market capitalization of $131.09 billion, a PE ratio of 37.23, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The firm’s fifty day simple moving average is $102.67 and its 200-day simple moving average is $98.68.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate 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 prior year, the business earned $0.90 EPS. As a group, analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Analysts Set New Price Targets

SBUX has been the subject of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. UBS Group increased their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Barclays increased their price objective on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. BMO Capital Markets increased their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus increased their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.75.

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.