Ontario Teachers Pension Plan Board Has $220.33 Million Stock Position in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Ontario Teachers Pension Plan Board has reduced its stake in Starbucks Corporation by 9.9%, now holding approximately $220.33 million worth of shares, which accounts for 3.2% of its total holdings.
• Several research analysts have provided mixed ratings on Starbucks, with a consensus price target of $101.27 and varying recommendations from "hold" to "outperform."
• Starbucks recently announced a quarterly dividend of $0.61 per share, representing a dividend yield of 2.7% and a payout ratio of 105.17%.

Ontario Teachers Pension Plan Board reduced its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 9.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,246,230 shares of the coffee company's stock after selling 247,415 shares during the period. Starbucks accounts for approximately 3.2% of Ontario Teachers Pension Plan Board's holdings, making the stock its 13th largest holding. Ontario Teachers Pension Plan Board owned about 0.20% of Starbucks worth $220,333,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Starbucks in the 4th quarter valued at $25,000. Hughes Financial Services LLC acquired a new stake in Starbucks during the 1st quarter worth $27,000. McClarren Financial Advisors Inc. bought a new position in Starbucks during the first quarter worth about $29,000. Kapitalo Investimentos Ltda bought a new stake in shares of Starbucks in the fourth quarter worth about $32,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in shares of Starbucks during the fourth quarter worth about $41,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBUX has been the subject of several research analyst reports. TD Securities reiterated a "hold" rating and issued a $90.00 price objective on shares of Starbucks in a research report on Monday, June 23rd. Wells Fargo & Company lifted their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. CICC Research began coverage on shares of Starbucks in a report on Monday, June 30th. They issued an "outperform" rating and a $100.00 price target for the company. Jefferies Financial Group downgraded shares of Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 price objective for the company. in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada boosted their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $101.27.

Starbucks Stock Performance

Shares of SBUX stock opened at $88.99 on Thursday. The firm's 50-day moving average is $91.96 and its 200-day moving average is $94.48. The stock has a market cap of $101.15 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 5.14 and a beta of 1.02. Starbucks Corporation has a 52-week low of $74.75 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS 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 business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The business's revenue was up 3.8% compared to the same quarter last year. Sell-side analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th 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 2.7%. The ex-dividend date is Friday, August 15th. Starbucks's dividend payout ratio (DPR) is currently 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.

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