Teacher Retirement System of Texas Has $21.42 Million Stock Position in Starbucks Corporation (NASDAQ:SBUX)

Teacher Retirement System of Texas lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 226.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 218,367 shares of the coffee company's stock after buying an additional 151,524 shares during the period. Teacher Retirement System of Texas' holdings in Starbucks were worth $21,420,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SBUX. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks during the 4th quarter worth $25,000. Graney & King LLC acquired a new position in shares of Starbucks during the 4th quarter worth $26,000. Runnymede Capital Advisors Inc. acquired a new position in shares of Starbucks during the 4th quarter worth $27,000. Kapitalo Investimentos Ltda acquired a new position in shares of Starbucks during the 4th quarter worth $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new position in shares of Starbucks during the 4th quarter worth $41,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Ratings Changes

SBUX has been the subject of a number of recent research reports. Evercore ISI reaffirmed an "outperform" rating and issued a $105.00 target price (up previously from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. TD Securities reaffirmed a "hold" rating and issued a $90.00 target price on shares of Starbucks in a report on Monday, June 23rd. Robert W. Baird reaffirmed a "neutral" rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. JPMorgan Chase & Co. lowered their target price on Starbucks from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, Stifel Nicolaus lowered their target price on Starbucks from $103.00 to $92.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Starbucks presently has an average rating of "Hold" and an average target price of $98.23.

Starbucks Price Performance

Shares of Starbucks stock opened at $94.44 on Friday. The stock's 50-day moving average is $87.93 and its 200 day moving average is $94.28. The firm has a market cap of $107.32 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 4.84 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 announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. The firm's revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 EPS. On average, sell-side analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

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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