Starbucks Corporation $SBUX Stock Holdings Trimmed by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio decreased its holdings in Starbucks by 0.7%, owning 466,496 shares worth approximately $42.75 million after selling 3,087 shares in the last quarter.
• Starbucks' stock price saw a decline of 1.7%, with shares opening at $84.27, while the company reported a EPS of $0.50 for the last quarter, missing analysts' expectations.
• Research analysts have set a consensus price target of $104.40 for Starbucks, with various ratings across the board, including 15 “Buy” and 2 “Sell” ratings.

Public Employees Retirement System of Ohio reduced its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 466,496 shares of the coffee company's stock after selling 3,087 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Starbucks were worth $42,745,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Nuveen LLC bought a new stake in Starbucks in the first quarter valued at about $1,379,619,000. Jennison Associates LLC acquired a new position in shares of Starbucks during the first quarter worth approximately $817,759,000. Polen Capital Management LLC acquired a new position in shares of Starbucks during the first quarter worth approximately $503,539,000. Goldman Sachs Group Inc. boosted its position in shares of Starbucks by 59.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company's stock worth $943,948,000 after buying an additional 3,589,537 shares during the period. Finally, Wellington Management Group LLP lifted its position in Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company's stock worth $1,904,366,000 after purchasing an additional 3,545,655 shares during the period. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Down 1.7%

Shares of NASDAQ:SBUX opened at $84.27 on Thursday. The business has a 50 day moving average price of $88.87 and a 200 day moving average price of $89.27. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The company has a market cap of $95.79 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 5.12 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the prior year, the business posted $0.93 EPS. Starbucks's revenue was up 3.8% compared to the same quarter last year. Analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group upped their target price on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. CICC Research started coverage on shares of Starbucks in a research note on Monday, June 30th. They set an "outperform" rating and a $100.00 target price on the stock. TD Securities reissued a "hold" rating and set a $90.00 target price on shares of Starbucks in a research note on Monday, June 23rd. Jefferies Financial Group downgraded shares of Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price target on the stock. in a research note on Thursday, July 17th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $95.00 price target (up from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.40.

Starbucks 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.

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