Public Employees Retirement Association of Colorado Reduces Holdings in Starbucks Co. (NASDAQ:SBUX)

Public Employees Retirement Association of Colorado lowered its position in Starbucks Co. (NASDAQ:SBUX) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,180,596 shares of the coffee company’s stock after selling 3,818 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.10% of Starbucks worth $91,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Vima LLC purchased a new position in shares of Starbucks in the fourth quarter worth about $26,000. Scarborough Advisors LLC bought a new position in Starbucks in the 4th quarter worth approximately $26,000. New Millennium Group LLC purchased a new position in Starbucks in the 2nd quarter valued at approximately $26,000. Stephens Consulting LLC raised its holdings in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the period. Finally, DSM Capital Partners LLC purchased a new stake in shares of Starbucks during the fourth quarter worth $27,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 0.8 %

Shares of NASDAQ:SBUX opened at $96.90 on Friday. The company’s fifty day moving average is $86.24 and its 200 day moving average is $84.07. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The stock has a market cap of $109.81 billion, a PE ratio of 26.69, a PEG ratio of 2.31 and a beta of 0.96.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. BMO Capital Markets lifted their price target on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Citigroup increased their price target on shares of Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. One 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.08.

Insider Transactions at Starbucks

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

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.