Teachers Retirement System of The State of Kentucky increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 429,722 shares of the coffee company’s stock after buying an additional 21,581 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Starbucks were worth $23,080,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Jacobi Capital Management LLC raised its stake in Starbucks by 6.9% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after purchasing an additional 129 shares in the last quarter. Valley National Advisers Inc. raised its stake in Starbucks by 2.8% in the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after purchasing an additional 57 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in Starbucks in the 2nd quarter worth about $128,000. Horan Capital Advisors LLC. acquired a new stake in Starbucks in the 3rd quarter worth about $131,000. Finally, Aviance Capital Management LLC acquired a new stake in Starbucks in the 2nd quarter worth about $146,000. 70.76% of the stock is owned by institutional investors and hedge funds.
In other Starbucks news, Director Joshua Cooper Ramo sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $59.43, for a total transaction of $3,565,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Paul Mutty sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total transaction of $170,850.00. Following the sale, the senior vice president now directly owns 10,438 shares in the company, valued at $594,444.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 497,808 shares of company stock valued at $28,559,521. 3.40% of the stock is owned by corporate insiders.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 EPS. analysts anticipate that Starbucks Co. will post 2.38 earnings per share for the current year.
Several analysts have weighed in on the stock. Oppenheimer reiterated a “buy” rating and issued a $66.00 price objective on shares of Starbucks in a research note on Friday. Telsey Advisory Group reiterated an “outperform” rating and issued a $70.00 price objective (up previously from $66.00) on shares of Starbucks in a research note on Friday. Barclays reiterated an “equal weight” rating and issued a $65.00 price objective (up previously from $58.00) on shares of Starbucks in a research note on Tuesday, January 16th. Vetr cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $61.72 price objective for the company. in a research note on Monday, January 8th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $70.00 price objective on shares of Starbucks in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Starbucks has a consensus rating of “Buy” and a consensus price target of $63.54.
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Starbucks Company 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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