Retirement Systems of Alabama lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 700,514 shares of the coffee company’s stock after selling 1,604 shares during the period. Retirement Systems of Alabama’s holdings in Starbucks were worth $37,625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Janus Henderson Group PLC increased its holdings in Starbucks by 3,076.5% during the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock valued at $809,917,000 after purchasing an additional 13,452,551 shares during the period. Parnassus Investments CA purchased a new position in Starbucks during the 3rd quarter valued at about $498,863,000. Renaissance Technologies LLC increased its holdings in Starbucks by 539.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock valued at $228,504,000 after purchasing an additional 3,305,700 shares during the period. Vanguard Group Inc. increased its holdings in Starbucks by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after purchasing an additional 1,953,003 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Starbucks by 3,007.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,904,800 shares of the coffee company’s stock valued at $111,069,000 after purchasing an additional 1,843,500 shares during the period. Hedge funds and other institutional investors own 70.67% of the company’s stock.

Shares of Starbucks Co. (SBUX) opened at $59.18 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. Starbucks Co. has a 12-month low of $52.58 and a 12-month high of $64.87. The company has a market capitalization of $84,200.00, a P/E ratio of 30.04, a PEG ratio of 1.61 and a beta of 0.76.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the firm posted $0.56 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. research analysts predict that Starbucks Co. will post 2.34 earnings per share for the current year.

In other news, Director Joshua Cooper Ramo sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $59.43, for a total value of $3,565,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Craig Weatherup sold 56,666 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $56.73, for a total value of $3,214,662.18. Following the completion of the sale, the director now directly owns 56,666 shares in the company, valued at $3,214,662.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 497,808 shares of company stock worth $28,559,521. Insiders own 3.40% of the company’s stock.

A number of research analysts recently issued reports on the company. Piper Jaffray Companies restated a “buy” rating and set a $70.00 price target on shares of Starbucks in a report on Friday, January 5th. Robert W. Baird reduced their price target on Starbucks from $70.00 to $66.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. Mizuho restated a “buy” rating and set a $75.00 price target on shares of Starbucks in a report on Friday, September 29th. Credit Suisse Group reduced their price target on Starbucks from $56.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. Finally, Stephens restated an “equal weight” rating and set a $52.00 price target (down previously from $58.00) on shares of Starbucks in a report on Friday, September 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $63.23.

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Starbucks Profile

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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