Arizona State Retirement System Acquires 2,722 Shares of Starbucks Co. (NASDAQ:SBUX)

Arizona State Retirement System grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.8% during the fourth quarter, Holdings Channel reports. The firm owned 327,459 shares of the coffee company’s stock after purchasing an additional 2,722 shares during the period. Arizona State Retirement System’s holdings in Starbucks were worth $29,881,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Robeco Institutional Asset Management B.V. grew its holdings in Starbucks by 6.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 45,446 shares of the coffee company’s stock valued at $4,431,000 after purchasing an additional 2,590 shares during the last quarter. Catalyst Capital Advisors LLC grew its stake in Starbucks by 61.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,779 shares of the coffee company’s stock valued at $173,000 after buying an additional 679 shares during the last quarter. FSM Wealth Advisors LLC raised its holdings in Starbucks by 6.4% in the 3rd quarter. FSM Wealth Advisors LLC now owns 4,526 shares of the coffee company’s stock worth $441,000 after acquiring an additional 273 shares during the period. Greenwood Capital Associates LLC acquired a new position in Starbucks during the 3rd quarter worth $200,000. Finally, James J. Burns & Company LLC bought a new stake in Starbucks during the third quarter valued at about $286,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX opened at $112.06 on Wednesday. The stock’s 50 day simple moving average is $103.11 and its 200 day simple moving average is $98.80. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46. The firm has a market cap of $127.29 billion, a PE ratio of 36.15, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the previous year, the firm earned $0.90 EPS. As a group, equities analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SBUX shares. UBS Group boosted their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Stifel Nicolaus increased their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Barclays boosted their target price on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Finally, Wedbush boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

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.