OMERS ADMINISTRATION Corp Has $4.31 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

OMERS ADMINISTRATION Corp raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,258 shares of the coffee company’s stock after purchasing an additional 2,681 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Starbucks were worth $4,312,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SBUX. Norges Bank acquired a new stake in Starbucks during the 4th quarter valued at $1,244,812,000. Capital World Investors boosted its position in shares of Starbucks by 20.1% in the fourth quarter. Capital World Investors now owns 54,924,230 shares of the coffee company’s stock valued at $5,011,796,000 after acquiring an additional 9,174,682 shares during the period. FMR LLC boosted its position in shares of Starbucks by 27.0% in the fourth quarter. FMR LLC now owns 25,128,649 shares of the coffee company’s stock valued at $2,292,989,000 after acquiring an additional 5,348,790 shares during the period. Capital Research Global Investors boosted its position in shares of Starbucks by 167.6% in the fourth quarter. Capital Research Global Investors now owns 5,690,198 shares of the coffee company’s stock valued at $519,230,000 after acquiring an additional 3,563,942 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Starbucks in the fourth quarter valued at about $284,283,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SBUX shares. Jefferies Financial Group raised shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price for the company in a research report on Wednesday, April 9th. Robert W. Baird reissued a “neutral” rating and issued a $85.00 target price (down previously from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Royal Bank of Canada reduced their target price on shares of Starbucks from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. StockNews.com raised shares of Starbucks from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, UBS Group decreased their price target on Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.72.

Starbucks Trading Up 1.4%

Shares of SBUX stock opened at $86.88 on Wednesday. The business’s 50-day moving average price is $89.11 and its 200-day moving average price is $96.73. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $117.46. The firm has a market capitalization of $98.73 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period in the previous year, the business posted $0.68 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Friday, May 16th. Starbucks’s payout ratio is 88.41%.

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.