Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its stake in Starbucks Co. (NASDAQ:SBUX) by 56.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,414,404 shares of the coffee company’s stock after acquiring an additional 511,621 shares during the period. Canada Pension Plan Investment Board owned about 0.12% of Starbucks worth $129,262,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in SBUX. Vima LLC acquired a new position in shares of Starbucks during the fourth quarter worth about $26,000. Scarborough Advisors LLC acquired a new position in Starbucks during the 4th quarter worth approximately $26,000. DSM Capital Partners LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $27,000. Fairman Group LLC acquired a new stake in shares of Starbucks in the 4th quarter valued at $30,000. Finally, Cypress Capital Management LLC WY lifted its position in shares of Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after purchasing an additional 185 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company decreased their price target on Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Citigroup lowered their price target on Starbucks from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Starbucks from $89.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. TD Cowen reduced their price objective on shares of Starbucks from $85.00 to $81.00 and set a “hold” rating for the company in a research report on Wednesday, July 17th. Finally, DZ Bank downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research report on Friday, May 3rd. Seventeen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Hold” and an average price target of $91.71.

Starbucks Trading Up 1.0 %

Shares of SBUX stock traded up $0.73 during mid-day trading on Friday, reaching $74.05. The stock had a trading volume of 12,387,111 shares, compared to its average volume of 11,764,148. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The business has a 50-day simple moving average of $77.88 and a 200 day simple moving average of $85.24. The company has a market cap of $83.88 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.66 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 EPS. Research analysts anticipate that Starbucks Co. will post 3.57 EPS for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. Insiders sold 7,250 shares of company stock worth $579,375 in the last 90 days. 1.98% of the stock is owned by company insiders.

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.