Teachers Retirement System of The State of Kentucky Sells 2,756 Shares of Starbucks Co. (NASDAQ:SBUX)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 176,757 shares of the coffee company’s stock after selling 2,756 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Starbucks were worth $13,760,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in Starbucks by 7.9% in the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after acquiring an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its holdings in shares of Starbucks by 2.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after purchasing an additional 127 shares in the last quarter. Edge Capital Group LLC grew its holdings in shares of Starbucks by 3.4% during the fourth quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock worth $390,000 after buying an additional 134 shares in the last quarter. M&R Capital Management Inc. raised its position in Starbucks by 30.9% in the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock valued at $44,000 after buying an additional 134 shares during the last quarter. Finally, Fragasso Financial Advisors Inc lifted its stake in Starbucks by 1.1% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 12,837 shares of the coffee company’s stock valued at $999,000 after acquiring an additional 135 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.1 %

Shares of NASDAQ SBUX opened at $97.43 on Wednesday. The business’s 50 day moving average is $89.58 and its 200-day moving average is $84.24. The firm has a market cap of $110.41 billion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting 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 the consensus estimate of $9.25 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The company’s revenue was down .6% on a year-over-year basis. Analysts forecast that Starbucks Co. will post 3.56 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on SBUX. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $110.00 in a research note on Wednesday, August 14th. The Goldman Sachs Group assumed coverage on shares of Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target on the stock. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. JPMorgan Chase & Co. raised their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday. Finally, Barclays upped their target price on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.12.

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.