Teachers Retirement System of The State of Kentucky Sells 2,756 Shares of Starbucks Co. (NASDAQ:SBUX)

Teachers Retirement System of The State of Kentucky reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.5% in the 2nd quarter, Holdings Channel reports. The firm owned 176,757 shares of the coffee company’s stock after selling 2,756 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Starbucks were worth $13,760,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Scarborough Advisors LLC bought a new stake in shares of Starbucks during the 4th quarter worth $26,000. Vima LLC bought a new position in shares of Starbucks in the fourth quarter worth about $26,000. Fairman Group LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $30,000. Raleigh Capital Management Inc. increased its position in Starbucks by 150.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 198 shares in the last quarter. Finally, New Millennium Group LLC bought a new position in Starbucks in the 2nd quarter valued at approximately $26,000. 72.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SBUX has been the subject of several research analyst reports. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Morgan Stanley reissued an “overweight” rating and set a $98.00 price target on shares of Starbucks in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday. The Goldman Sachs Group started coverage on shares of Starbucks in a report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective for the company. Finally, Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their price target for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.12.

Starbucks Price Performance

Shares of Starbucks stock opened at $97.43 on Wednesday. The business has a 50-day simple moving average of $89.58 and a 200 day simple moving average of $84.24. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The firm has a market capitalization of $110.41 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.33 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period in the prior year, the firm earned $1.00 earnings per share. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts expect that Starbucks Co. will post 3.56 EPS for the current year.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

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.