Illinois Municipal Retirement Fund Has $2.42 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Illinois Municipal Retirement Fund trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 15.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,496 shares of the coffee company’s stock after selling 4,734 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Starbucks were worth $2,418,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Financial Life Planners acquired a new position in shares of Starbucks in the 4th quarter valued at $25,000. Collier Financial bought a new stake in Starbucks in the fourth quarter valued at about $27,000. Marshall Investment Management LLC acquired a new position in Starbucks in the fourth quarter worth about $30,000. Centricity Wealth Management LLC bought a new position in Starbucks during the fourth quarter worth about $36,000. Finally, Morton Brown Family Wealth LLC boosted its holdings in Starbucks by 43.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 505 shares of the coffee company’s stock valued at $46,000 after purchasing an additional 154 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SBUX. Wedbush increased their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. UBS Group increased their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. TD Cowen restated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Finally, Citigroup lifted their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $105.75.

Starbucks Trading Up 1.3 %

Shares of NASDAQ SBUX opened at $114.49 on Friday. The firm has a market capitalization of $130.05 billion, a PE ratio of 36.93, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The firm’s 50-day moving average is $101.55 and its 200-day moving average is $98.22. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $115.70.

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

About Starbucks

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.