Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 5,671 Shares of Starbucks Co. (NASDAQ:SBUX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 241,016 shares of the coffee company’s stock after selling 5,671 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Starbucks were worth $21,993,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. State Street Corp boosted its holdings in Starbucks by 1.0% in the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after acquiring an additional 437,218 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Starbucks by 1.4% during the third quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after purchasing an additional 333,004 shares during the period. FMR LLC raised its position in shares of Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after purchasing an additional 7,598,146 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in Starbucks by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 11,916,777 shares of the coffee company’s stock valued at $1,087,406,000 after purchasing an additional 154,093 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Wells Fargo & Company increased their price objective on Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. 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. UBS Group boosted their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, BMO Capital Markets raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $106.12.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $99.28 on Friday. The firm has a fifty day moving average of $105.31 and a 200 day moving average of $99.30. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market capitalization of $112.77 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS 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 last year, the firm posted $0.90 EPS. On average, sell-side analysts forecast that Starbucks Co. will post 2.99 EPS 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.