Kentucky Retirement Systems Insurance Trust Fund Acquires 6,274 Shares of Starbucks Corporation (NASDAQ:SBUX)

Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 23.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,961 shares of the coffee company's stock after buying an additional 6,274 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Starbucks were worth $3,233,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in SBUX. TrinityPoint Wealth LLC lifted its position in Starbucks by 2.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock worth $312,000 after buying an additional 89 shares during the last quarter. Pioneer Trust Bank N A OR raised its stake in shares of Starbucks by 0.8% during the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock worth $1,032,000 after acquiring an additional 92 shares in the last quarter. Wintrust Investments LLC lifted its holdings in shares of Starbucks by 7.1% in the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock worth $128,000 after acquiring an additional 94 shares during the last quarter. Gamco Investors INC. ET AL raised its position in Starbucks by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock worth $261,000 after purchasing an additional 97 shares during the period. Finally, Foster Dykema Cabot & Partners LLC grew its stake in shares of Starbucks by 10.6% during the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock valued at $93,000 after buying an additional 97 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded up $0.84 during midday trading on Friday, hitting $93.12. The company had a trading volume of 9,196,362 shares, compared to its average volume of 10,946,177. Starbucks Corporation has a 12-month low of $71.55 and a 12-month high of $117.46. The company has a fifty day moving average of $85.88 and a two-hundred day moving average of $94.54. The company has a market cap of $105.82 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 4.74 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 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The company had revenue of $8.76 billion during the quarter, compared to analysts' expectations of $8.90 billion. During the same quarter in the previous year, the company earned $0.68 EPS. The business's quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SBUX. JPMorgan Chase & Co. dropped their price objective on Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Wall Street Zen lowered shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Guggenheim cut their target price on Starbucks from $95.00 to $83.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. UBS Group reduced their price target on Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Finally, Wells Fargo & Company dropped their target price on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $98.96.

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.