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

Canada Pension Plan Investment Board cut its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 24.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 882,727 shares of the coffee company's stock after selling 292,575 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.08% of Starbucks worth $80,549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Pioneer Trust Bank N A OR boosted its stake in Starbucks by 0.8% in the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company's stock worth $1,032,000 after purchasing an additional 92 shares during the period. Wintrust Investments LLC boosted its position in Starbucks by 7.1% during the fourth quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company's stock valued at $128,000 after purchasing an additional 94 shares in the last quarter. Kuhn & Co Investment Counsel boosted its holdings in Starbucks by 2.3% in the fourth quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company's stock worth $387,000 after acquiring an additional 96 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in Starbucks by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company's stock worth $261,000 after acquiring an additional 97 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC grew its holdings in Starbucks by 10.6% during the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company's stock worth $93,000 after acquiring an additional 97 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 1.3 %

Shares of NASDAQ SBUX traded up $1.09 during mid-day trading on Wednesday, reaching $82.84. 4,036,476 shares of the company were exchanged, compared to its average volume of 10,639,247. The stock has a market capitalization of $94.10 billion, a P/E ratio of 26.72, a P/E/G ratio of 3.59 and a beta of 1.00. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The company's 50-day simple moving average is $97.97 and its 200-day simple moving average is $98.06.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the previous year, the company earned $0.90 earnings per share. As a group, equities research analysts expect that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.95%. Starbucks's payout ratio is currently 78.71%.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research analyst reports. BMO Capital Markets increased their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Wedbush increased their target price on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 29th. Citigroup decreased their price objective on shares of Starbucks from $100.00 to $88.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Robert W. Baird reaffirmed a "neutral" rating and set a $85.00 price target (down previously from $114.00) on shares of Starbucks in a report on Monday, April 7th. Finally, UBS Group boosted their price objective on Starbucks from $98.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $103.00.

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.