Starbucks Corporation $SBUX Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.6% during the third quarter, HoldingsChannel reports. The fund owned 397,795 shares of the coffee company’s stock after acquiring an additional 13,931 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Starbucks were worth $33,653,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its stake in Starbucks by 22.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,187,168 shares of the coffee company’s stock worth $100,434,000 after purchasing an additional 215,826 shares in the last quarter. ABN Amro Investment Solutions bought a new position in Starbucks during the 3rd quarter worth approximately $525,000. Uhlmann Price Securities LLC acquired a new position in shares of Starbucks in the 3rd quarter worth approximately $625,000. HighTower Advisors LLC grew its position in shares of Starbucks by 2.3% in the 3rd quarter. HighTower Advisors LLC now owns 1,445,579 shares of the coffee company’s stock worth $122,300,000 after acquiring an additional 32,297 shares in the last quarter. Finally, Pavion Blue Capital LLC increased its holdings in shares of Starbucks by 9.1% in the 3rd quarter. Pavion Blue Capital LLC now owns 15,396 shares of the coffee company’s stock valued at $1,303,000 after acquiring an additional 1,278 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SBUX shares. Citigroup reduced their price objective on Starbucks from $94.00 to $92.00 and set a “neutral” rating on the stock in a research note on Monday, February 2nd. UBS Group reissued a “neutral” rating on shares of Starbucks in a report on Friday, January 30th. BTIG Research reaffirmed a “buy” rating and issued a $105.00 price target on shares of Starbucks in a report on Thursday, January 29th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Starbucks in a research note on Monday, January 26th. Finally, William Blair raised shares of Starbucks from a “market perform” rating to an “outperform” rating in a report on Thursday, January 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $104.31.

Starbucks Trading Down 3.1%

NASDAQ SBUX opened at $93.79 on Monday. The company has a 50-day moving average price of $90.22 and a two-hundred day moving average price of $87.25. The stock has a market cap of $106.85 billion, a price-to-earnings ratio of 77.51, a price-to-earnings-growth ratio of 2.10 and a beta of 0.96. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, January 28th. The coffee company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.03). Starbucks had a negative return on equity of 28.66% and a net margin of 3.63%.The business had revenue of $9.92 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. Starbucks has set its FY 2026 guidance at 2.150-2.400 EPS. As a group, equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

About Starbucks

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.