State of Alaska Department of Revenue Purchases 3,780 Shares of Starbucks Corporation (NASDAQ:SBUX)

State of Alaska Department of Revenue grew its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,039 shares of the coffee company's stock after buying an additional 3,780 shares during the quarter. State of Alaska Department of Revenue's holdings in Starbucks were worth $13,049,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock valued at $29,881,000 after purchasing an additional 2,722 shares during the last quarter. West Michigan Advisors LLC bought a new position in shares of Starbucks during the fourth quarter valued at $265,000. Wernau Asset Management Inc. bought a new position in shares of Starbucks during the fourth quarter valued at $258,000. Vanguard Capital Wealth Advisors purchased a new stake in shares of Starbucks during the fourth quarter valued at $285,000. Finally, OFI Invest Asset Management bought a new stake in Starbucks in the 4th quarter worth about $9,497,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Stock Up 0.8%

NASDAQ SBUX opened at $92.28 on Thursday. Starbucks Corporation has a twelve month low of $71.55 and a twelve month high of $117.46. The business has a 50-day moving average price of $85.57 and a 200-day moving average price of $94.74. The firm has a market cap of $104.87 billion, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 4.66 and a beta of 1.00.

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 the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the previous year, the company earned $0.68 earnings per share. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $95.00 price target (up previously from $85.00) on shares of Starbucks in a report on Thursday, June 12th. UBS Group dropped their target price on shares of Starbucks from $105.00 to $90.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. BMO Capital Markets cut their target price on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Wall Street Zen lowered shares of Starbucks from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Cowen cut Starbucks from a "buy" rating to a "hold" rating in a report on Thursday, May 29th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Starbucks has a consensus rating of "Hold" and an average price target of $98.96.

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.

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