Arizona State Retirement System Has $32.63 Million Stake in Starbucks Corporation (NASDAQ:SBUX)

Arizona State Retirement System lifted its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 332,652 shares of the coffee company's stock after acquiring an additional 5,193 shares during the quarter. Arizona State Retirement System's holdings in Starbucks were worth $32,630,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Northwest Capital Management Inc increased its position in shares of Starbucks by 23.7% in the first quarter. Northwest Capital Management Inc now owns 1,568 shares of the coffee company's stock worth $154,000 after acquiring an additional 300 shares in the last quarter. Ballentine Partners LLC grew its position in Starbucks by 12.7% during the 1st quarter. Ballentine Partners LLC now owns 19,462 shares of the coffee company's stock worth $1,909,000 after purchasing an additional 2,193 shares in the last quarter. Family Firm Inc. grew its position in Starbucks by 6.7% during the 1st quarter. Family Firm Inc. now owns 3,677 shares of the coffee company's stock worth $361,000 after purchasing an additional 232 shares in the last quarter. PYA Waltman Capital LLC raised its stake in Starbucks by 3.7% during the 1st quarter. PYA Waltman Capital LLC now owns 10,428 shares of the coffee company's stock valued at $1,023,000 after purchasing an additional 371 shares during the period. Finally, SteelPeak Wealth LLC lifted its holdings in shares of Starbucks by 53.9% in the first quarter. SteelPeak Wealth LLC now owns 28,822 shares of the coffee company's stock valued at $2,827,000 after purchasing an additional 10,094 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBUX has been the topic of several recent analyst reports. Sanford C. Bernstein upped their price target on Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. TD Cowen reiterated a "hold" rating and issued a $90.00 target price on shares of Starbucks in a report on Thursday, May 29th. Baird R W lowered shares of Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Argus raised shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price objective on the stock in a research report on Tuesday, March 18th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of "Hold" and an average price target of $98.73.

Starbucks Trading Down 0.2%

NASDAQ:SBUX traded down $0.21 during mid-day trading on Friday, hitting $94.94. 6,339,055 shares of the company's stock traded hands, compared to its average volume of 10,850,827. The firm has a market capitalization of $107.89 billion, a price-to-earnings ratio of 34.40, a price-to-earnings-growth ratio of 4.87 and a beta of 1.02. The firm has a 50 day moving average of $89.10 and a two-hundred day moving average of $94.49. Starbucks Corporation has a 12 month low of $71.55 and a 12 month high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a net margin of 8.61% and a negative return on equity of 42.14%. The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same period in the prior year, the company posted $0.68 earnings per share. The firm's revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current 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.