Canada Pension Plan Investment Board Grows Stake in Starbucks Co. (NASDAQ:SBUX)

Canada Pension Plan Investment Board increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 27.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,808,671 shares of the coffee company’s stock after buying an additional 394,267 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Starbucks were worth $140,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board acquired a new position in shares of Starbucks in the first quarter valued at about $415,167,000. Diamond Hill Capital Management Inc. acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $243,910,000. Flossbach Von Storch AG increased its holdings in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after purchasing an additional 2,897,282 shares in the last quarter. Capital World Investors acquired a new position in shares of Starbucks in the 1st quarter valued at $257,721,000. Finally, Van ECK Associates Corp grew its position in Starbucks by 108.1% during the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after buying an additional 2,324,847 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and raised their target price for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. Jefferies Financial Group decreased their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on shares of Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective for the company. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Finally, DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $100.08.

Insider Activity

In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Down 0.9 %

Shares of SBUX opened at $96.05 on Friday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market cap of $108.84 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.31 and a beta of 0.96. The business’s 50 day moving average is $86.67 and its two-hundred day moving average is $84.09.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the business posted $1.00 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts expect that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

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.