Teacher Retirement System of Texas Raises Stake in Starbucks Co. (NASDAQ:SBUX)

Teacher Retirement System of Texas increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 64.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,843 shares of the coffee company’s stock after buying 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 SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Strategic Financial Concepts LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $62,000. Arizona State Retirement System increased its position in Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock worth $29,881,000 after buying an additional 2,722 shares during the last quarter. West Michigan Advisors LLC purchased a new stake in Starbucks in the fourth quarter worth $265,000. Wernau Asset Management Inc. bought a new stake in shares of Starbucks in the fourth quarter valued at $258,000. Finally, Investment Management Corp of Ontario lifted its position in shares of Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after buying an additional 12,300 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Starbucks stock opened at $97.07 on Monday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The stock has a market cap of $110.26 billion, a P/E ratio of 31.31, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The firm’s fifty day moving average price is $105.41 and its 200-day moving average price is $99.41.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 company earned $0.90 earnings per share. On average, analysts predict that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of research reports. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research note on Tuesday, March 18th. Wedbush boosted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Wells Fargo & Company lifted their price objective on shares of Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Finally, BMO Capital Markets increased their target price on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.12.

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.