Canada Pension Plan Investment Board Has $81.69 Million Stake in Starbucks Corporation $SBUX

Canada Pension Plan Investment Board trimmed its stake in Starbucks Corporation (NASDAQ:SBUX) by 5.7% during the first quarter, Holdings Channel reports. The fund owned 832,752 shares of the coffee company’s stock after selling 49,975 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Starbucks were worth $81,685,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SBUX. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks in the 4th quarter valued at approximately $25,000. Hughes Financial Services LLC bought a new position in shares of Starbucks in the 1st quarter valued at approximately $27,000. McClarren Financial Advisors Inc. bought a new position in shares of Starbucks in the 1st quarter valued at approximately $29,000. Kapitalo Investimentos Ltda bought a new position in shares of Starbucks in the 4th quarter valued at approximately $32,000. Finally, Ball & Co Wealth Management Inc. bought a new position in shares of Starbucks in the 4th quarter valued at approximately $41,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Citigroup cut their price objective on Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $115.00 price target (up from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. TD Securities reaffirmed a “hold” rating and issued a $90.00 price target on shares of Starbucks in a research report on Monday, June 23rd. Bank of America lifted their price target on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. lifted their price target on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

Starbucks Trading Up 0.2%

Shares of NASDAQ:SBUX opened at $88.19 on Friday. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The firm has a market capitalization of $100.25 billion, a PE ratio of 38.01, a PEG ratio of 5.22 and a beta of 1.02. The business’s 50 day moving average is $91.96 and its 200-day moving average is $92.70.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same period in the previous year, the business posted $0.93 EPS. Starbucks’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, August 15th. Starbucks’s dividend payout ratio (DPR) is presently 105.17%.

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.