Starbucks Corporation $SBUX Shares Sold by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Starbucks by 5.7% during the first quarter, owning approximately 0.07% of the company at a value of $81.68 million.
• Starbucks reported $0.50 earnings per share for the last quarter, missing estimates, but had a revenue of $9.46 billion, exceeding forecasts.
• The company declared a quarterly dividend of $0.61 per share, representing a dividend yield of 2.8%, with a payout ratio currently at 105.17%.

Canada Pension Plan Investment Board decreased its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 832,752 shares of the coffee company's stock after selling 49,975 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.07% of Starbucks worth $81,685,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. TrinityPoint Wealth LLC boosted its position in Starbucks by 2.7% during the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company's stock worth $312,000 after acquiring an additional 89 shares during the last quarter. Benin Management CORP boosted its position in Starbucks by 0.7% during the first quarter. Benin Management CORP now owns 16,575 shares of the coffee company's stock worth $1,626,000 after acquiring an additional 120 shares during the last quarter. Ted Buchan & Co boosted its position in Starbucks by 1.5% during the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company's stock worth $791,000 after acquiring an additional 120 shares during the last quarter. Alexander Labrunerie & CO. Inc. boosted its position in Starbucks by 3.5% during the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company's stock worth $349,000 after acquiring an additional 122 shares during the last quarter. Finally, Guardian Wealth Advisors LLC NC boosted its position in Starbucks by 2.3% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 5,388 shares of the coffee company's stock worth $492,000 after acquiring an additional 123 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Stock Up 0.2%

NASDAQ SBUX traded up $0.17 on Monday, hitting $88.19. 6,312,155 shares of the stock were exchanged, compared to its average volume of 8,217,745. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The company has a market cap of $100.25 billion, a PE ratio of 38.01, a PEG ratio of 5.23 and a beta of 1.00. The company has a 50-day moving average price of $91.88 and a 200-day moving average price of $92.25.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly 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 firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the firm earned $0.93 EPS. The company's revenue was up 3.8% on a year-over-year basis. As a group, equities research 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 was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.61 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.8%. Starbucks's dividend payout ratio is presently 105.17%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Loop Capital set a $165.00 price target on shares of Starbucks in a research report on Tuesday, August 12th. Barclays boosted their price target on shares of Starbucks from $106.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. BMO Capital Markets reiterated an "outperform" rating and issued a $115.00 target price (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada boosted their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.40.

Starbucks Company 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.