New York State Common Retirement Fund Sells 55,510 Shares of Starbucks Corporation (NASDAQ:SBUX)

New York State Common Retirement Fund reduced its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 3.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,671,382 shares of the coffee company's stock after selling 55,510 shares during the period. New York State Common Retirement Fund owned 0.15% of Starbucks worth $163,946,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks during the fourth quarter valued at about $25,000. Graney & King LLC bought a new position in shares of Starbucks in the fourth quarter worth approximately $26,000. Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks in the fourth quarter worth approximately $27,000. Kapitalo Investimentos Ltda bought a new position in shares of Starbucks in the fourth quarter worth approximately $32,000. Finally, Ball & Co Wealth Management Inc. bought a new position in shares of Starbucks in the fourth quarter worth approximately $41,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Down 2.8%

SBUX traded down $2.62 during trading on Monday, reaching $92.32. The stock had a trading volume of 2,279,931 shares, compared to its average volume of 10,406,925. The stock's 50 day moving average is $89.10 and its two-hundred day moving average is $94.54. The company has a market capitalization of $104.91 billion, a price-to-earnings ratio of 33.47, a P/E/G ratio of 4.86 and a beta of 1.02. Starbucks Corporation has a one year low of $71.55 and a one year 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). The firm had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. Starbucks's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.68 EPS. On average, equities research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

SBUX has been the topic of several research analyst reports. TD Securities restated a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a research report on Monday, June 23rd. Wells Fargo & Company cut their target price on Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. CICC Research started coverage on Starbucks in a research note on Monday, June 30th. They issued an "outperform" rating and a $100.00 target price for the company. Evercore ISI reaffirmed an "outperform" rating and issued a $105.00 target price (up previously from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. Finally, JPMorgan Chase & Co. cut their target price on Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $98.73.

Starbucks Company 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.