OMERS ADMINISTRATION Corp Purchases 12,208 Shares of Starbucks Corporation $SBUX

Key Points

• OMERS Administration Corp increased its Starbucks stake by 30.1% in the first quarter, acquiring 12,208 shares and bringing its holdings to 52,824 shares valued at approximately $4.7 million. Institutional investors collectively own 72.29% of Starbucks.
• Starbucks beat quarterly expectations, reporting adjusted earnings of $0.50 per share versus a $0.44 consensus estimate and revenue of $9.53 billion, up 8.8% year over year.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $109.42; Starbucks also declared a quarterly dividend of $0.62 per share, yielding about 2.4% annually.

OMERS ADMINISTRATION Corp raised its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 30.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,824 shares of the coffee company's stock after acquiring an additional 12,208 shares during the period. OMERS ADMINISTRATION Corp's holdings in Starbucks were worth $4,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Beta Wealth Group Inc. raised its stake in Starbucks by 1.7% during the first quarter. Beta Wealth Group Inc. now owns 6,114 shares of the coffee company's stock valued at $548,000 after purchasing an additional 103 shares in the last quarter. NWF Advisory Services Inc. lifted its position in Starbucks by 2.6% during the fourth quarter. NWF Advisory Services Inc. now owns 4,349 shares of the coffee company's stock valued at $366,000 after purchasing an additional 109 shares during the last quarter. Godshalk Welsh Capital Management Inc. grew its stake in shares of Starbucks by 0.8% in the 1st quarter. Godshalk Welsh Capital Management Inc. now owns 13,610 shares of the coffee company's stock worth $1,219,000 after buying an additional 110 shares in the last quarter. Aerodigm Wealth LLC grew its stake in shares of Starbucks by 2.7% in the 4th quarter. Aerodigm Wealth LLC now owns 4,245 shares of the coffee company's stock worth $357,000 after buying an additional 112 shares in the last quarter. Finally, River Street Advisors LLC increased its holdings in shares of Starbucks by 0.8% in the 4th quarter. River Street Advisors LLC now owns 13,516 shares of the coffee company's stock worth $1,138,000 after buying an additional 113 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Starbucks news, EVP Sara Kelly sold 2,000 shares of Starbucks stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $105.00, for a total transaction of $210,000.00. Following the completion of the sale, the executive vice president directly owned 57,653 shares of the company's stock, valued at $6,053,565. The trade was a 3.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brady Brewer sold 2,229 shares of Starbucks stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $104.00, for a total value of $231,816.00. Following the completion of the sale, the chief executive officer owned 77,364 shares of the company's stock, valued at $8,045,856. The trade was a 2.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 8,687 shares of company stock valued at $889,033. 0.03% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Starbucks in a report on Monday, July 20th. Jefferies Financial Group assumed coverage on Starbucks in a research note on Thursday, May 14th. They set a "buy" rating on the stock. Scotiabank downgraded Starbucks from a "market perform" rating to an "underperform" rating in a research report on Thursday, May 14th. The Goldman Sachs Group lowered Starbucks from a "neutral" rating to a "neutral" rating in a research note on Thursday, May 14th. Finally, Robert W. Baird lifted their target price on Starbucks from $112.00 to $117.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Nineteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $109.42.

Starbucks Price Performance

Shares of SBUX stock opened at $103.65 on Tuesday. The company has a market capitalization of $118.13 billion, a P/E ratio of 78.52, a P/E/G ratio of 2.05 and a beta of 0.98. The company's 50-day simple moving average is $102.27 and its two-hundred day simple moving average is $98.69. Starbucks Corporation has a one year low of $77.99 and a one year high of $109.23.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The coffee company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. The firm had revenue of $9.53 billion during the quarter, compared to the consensus estimate of $9.17 billion. Starbucks had a net margin of 3.89% and a negative return on equity of 29.24%. The company's revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share. On average, research analysts expect that Starbucks Corporation will post 2.41 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, August 14th. Starbucks's dividend payout ratio (DPR) is presently 187.88%.

Starbucks Profile

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.

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