Retirement Systems of Alabama Sells 77,475 Shares of Starbucks Corporation (NASDAQ:SBUX)

Retirement Systems of Alabama reduced its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 714,456 shares of the coffee company's stock after selling 77,475 shares during the period. Retirement Systems of Alabama owned approximately 0.06% of Starbucks worth $70,081,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Walter & Keenan Wealth Management LLC IN ADV grew its stake in shares of Starbucks by 4.0% in the 1st quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 5,978 shares of the coffee company's stock valued at $586,000 after purchasing an additional 231 shares during the period. Trifecta Capital Advisors LLC grew its position in Starbucks by 0.5% during the 1st quarter. Trifecta Capital Advisors LLC now owns 29,585 shares of the coffee company's stock worth $2,902,000 after acquiring an additional 156 shares during the last quarter. Blue Trust Inc. grew its position in Starbucks by 6.3% during the 1st quarter. Blue Trust Inc. now owns 13,256 shares of the coffee company's stock worth $1,300,000 after acquiring an additional 781 shares during the last quarter. Autumn Glory Partners LLC grew its position in Starbucks by 2.8% during the 1st quarter. Autumn Glory Partners LLC now owns 11,582 shares of the coffee company's stock worth $1,136,000 after acquiring an additional 314 shares during the last quarter. Finally, Silver Oak Securities Incorporated grew its position in Starbucks by 16.3% during the 1st quarter. Silver Oak Securities Incorporated now owns 5,245 shares of the coffee company's stock worth $513,000 after acquiring an additional 736 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. TD Securities restated a "hold" rating and set a $90.00 price target on shares of Starbucks in a research report on Wednesday, June 11th. Cowen lowered Starbucks from a "buy" rating to a "hold" rating in a research report on Thursday, May 29th. Guggenheim decreased their price target on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Citigroup increased their price target on Starbucks from $84.00 to $95.00 and gave the stock a "neutral" rating in a research report on Thursday, June 12th. Finally, Baird R W lowered Starbucks from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 7th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $98.96.

Starbucks Stock Up 0.8%

SBUX stock opened at $92.28 on Friday. The business's fifty day moving average is $85.73 and its 200-day moving average is $94.67. The company has a market cap of $104.87 billion, a P/E ratio of 33.43, a price-to-earnings-growth ratio of 4.70 and a beta of 1.00. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46.

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