California Public Employees Retirement System Has $164.38 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

California Public Employees Retirement System boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,801,396 shares of the coffee company’s stock after purchasing an additional 254,363 shares during the quarter. California Public Employees Retirement System owned about 0.16% of Starbucks worth $164,377,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in shares of Starbucks in the fourth quarter worth $135,000. Schroder Investment Management Group boosted its holdings in Starbucks by 15.8% in the 4th quarter. Schroder Investment Management Group now owns 600,469 shares of the coffee company’s stock valued at $54,390,000 after purchasing an additional 81,769 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Starbucks in the 4th quarter worth $602,000. Strategy Asset Managers LLC increased its holdings in shares of Starbucks by 4.3% during the 4th quarter. Strategy Asset Managers LLC now owns 6,107 shares of the coffee company’s stock worth $557,000 after purchasing an additional 251 shares during the period. Finally, Allianz SE acquired a new position in shares of Starbucks during the fourth quarter valued at about $406,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 1.1 %

Shares of NASDAQ SBUX opened at $97.73 on Monday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $117.46. The company has a 50-day moving average of $105.75 and a two-hundred day moving average of $99.55. The company has a market cap of $111.01 billion, a PE ratio of 31.53, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (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 prior year, the business posted $0.90 EPS. As a group, equities research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SBUX shares. UBS Group boosted their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Tuesday, March 18th. Wells Fargo & Company upped their target price on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Stifel Nicolaus lifted their price target on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $106.12.

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.