Teacher Retirement System of Texas Has $6.10 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Teacher Retirement System of Texas lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 64.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of SBUX. Financial Life Planners acquired a new position in Starbucks during the 4th quarter worth about $25,000. Collier Financial acquired a new position in shares of Starbucks in the fourth quarter worth approximately $27,000. Marshall Investment Management LLC bought a new stake in Starbucks in the fourth quarter valued at approximately $30,000. Noble Wealth Management PBC acquired a new stake in Starbucks during the 4th quarter valued at approximately $30,000. Finally, Centricity Wealth Management LLC bought a new position in Starbucks during the 4th quarter worth approximately $36,000. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a report on Tuesday, March 18th. BMO Capital Markets boosted their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Barclays raised their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.12.

Starbucks Stock Down 2.2 %

SBUX stock opened at $97.07 on Monday. The firm has a market capitalization of $110.26 billion, a PE ratio of 31.31, a P/E/G ratio of 3.59 and a beta of 0.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The stock’s 50 day moving average is $105.41 and its 200-day moving average is $99.41.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating 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 quarter in the previous year, the firm posted $0.90 EPS. On average, equities research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

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.