Teacher Retirement System of Texas Has $18.24 Million Position in Starbucks Corporation $SBUX

Teacher Retirement System of Texas trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 8.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 199,044 shares of the coffee company’s stock after selling 19,323 shares during the period. Teacher Retirement System of Texas’ holdings in Starbucks were worth $18,238,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of SBUX. Alliance Wealth Advisors LLC increased its holdings in Starbucks by 2.1% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock valued at $474,000 after buying an additional 108 shares during the period. Brown Lisle Cummings Inc. grew its stake in Starbucks by 1.4% during the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after buying an additional 117 shares during the last quarter. Diligent Investors LLC grew its stake in Starbucks by 1.9% during the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after buying an additional 117 shares during the last quarter. Ted Buchan & Co grew its stake in Starbucks by 1.5% during the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after buying an additional 120 shares during the last quarter. Finally, Alexander Labrunerie & CO. Inc. grew its holdings in Starbucks by 3.5% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after acquiring an additional 122 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup cut their price objective on shares of Starbucks from $99.00 to $84.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Sanford C. Bernstein upped their price objective on Starbucks from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Stifel Nicolaus raised their target price on Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Bank of America boosted their target price on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Finally, 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 report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.12.

Starbucks Trading Down 2.1%

Shares of NASDAQ SBUX opened at $85.43 on Wednesday. The company has a fifty day moving average price of $84.79 and a 200 day moving average price of $87.51. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The firm has a market cap of $97.11 billion, a PE ratio of 36.82, a PEG ratio of 4.38 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the prior year, the company earned $0.93 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. Starbucks’s dividend payout ratio is presently 105.17%.

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.