Illinois Municipal Retirement Fund Sells 5,035 Shares of Starbucks Corporation (NASDAQ:SBUX)

Illinois Municipal Retirement Fund trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 19.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,461 shares of the coffee company's stock after selling 5,035 shares during the period. Illinois Municipal Retirement Fund's holdings in Starbucks were worth $2,105,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. acquired a new position in Starbucks during the fourth quarter valued at approximately $25,000. Graney & King LLC bought a new stake in shares of Starbucks during the 4th quarter worth approximately $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new position in shares of Starbucks in the fourth quarter valued at $30,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Starbucks during the fourth quarter worth $32,000. Institutional investors own 72.29% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on SBUX. Argus upgraded shares of Starbucks from a "hold" rating to a "buy" rating and set a $115.00 price target for the company in a research note on Tuesday, March 18th. Evercore ISI reiterated an "outperform" rating and issued a $105.00 target price (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Baird R W cut Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Stifel Nicolaus dropped their price objective on Starbucks from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $85.00 price objective (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Starbucks has an average rating of "Hold" and a consensus price target of $98.76.

Starbucks Stock Up 0.3%

NASDAQ SBUX opened at $92.11 on Monday. The firm has a 50-day moving average price of $86.80 and a two-hundred day moving average price of $94.29. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46. The company has a market capitalization of $104.67 billion, a P/E ratio of 33.37, a P/E/G ratio of 4.73 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) 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 company had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter last year, the firm posted $0.68 earnings per share. The company's quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts expect that Starbucks Corporation will post 2.99 EPS 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.

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