Kentucky Retirement Systems Has $6.65 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Kentucky Retirement Systems lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,356 shares of the coffee company’s stock after selling 627 shares during the quarter. Kentucky Retirement Systems’ holdings in Starbucks were worth $6,645,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Vima LLC acquired a new stake in Starbucks during the 4th quarter valued at $26,000. Scarborough Advisors LLC bought a new position in shares of Starbucks in the fourth quarter valued at about $26,000. New Millennium Group LLC acquired a new stake in shares of Starbucks during the 2nd quarter worth about $26,000. Stephens Consulting LLC boosted its holdings in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares during the period. Finally, DSM Capital Partners LLC acquired a new position in Starbucks in the 4th quarter valued at about $27,000. Institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Down 0.3 %

Starbucks stock opened at $96.12 on Thursday. The stock has a market cap of $108.92 billion, a PE ratio of 26.48, a P/E/G ratio of 2.38 and a beta of 0.96. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The business’s 50-day moving average price is $85.77 and its two-hundred day moving average price is $83.98.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 EPS. As a group, analysts expect that Starbucks Co. will post 3.56 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on SBUX. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research report on Tuesday, August 13th. Morgan Stanley restated an “overweight” rating and issued a $98.00 price target on shares of Starbucks in a research note on Wednesday, July 31st. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Thursday, September 12th. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. Finally, Citigroup upped their price target on shares of Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $100.08.

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.