Canada Pension Plan Investment Board Sells 292,575 Shares of Starbucks Co. (NASDAQ:SBUX)

Canada Pension Plan Investment Board lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 24.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 882,727 shares of the coffee company's stock after selling 292,575 shares during the quarter. Canada Pension Plan Investment Board owned about 0.08% of Starbucks worth $80,549,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SBUX. Financial Life Planners acquired a new stake in shares of Starbucks in the 4th quarter worth approximately $25,000. Graney & King LLC bought a new stake in shares of Starbucks in the 4th quarter worth $26,000. Collier Financial bought a new position in Starbucks during the fourth quarter valued at about $27,000. Runnymede Capital Advisors Inc. bought a new stake in Starbucks in the fourth quarter worth about $27,000. Finally, Marshall Investment Management LLC bought a new position in shares of Starbucks during the 4th quarter valued at about $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Up 1.5 %

SBUX stock traded up $1.20 during trading on Tuesday, reaching $81.88. 5,285,383 shares of the stock were exchanged, compared to its average volume of 10,657,196. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The company has a market capitalization of $93.00 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The stock has a 50 day simple moving average of $98.60 and a 200-day simple moving average of $98.18.

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 for the quarter, topping the consensus estimate 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 business earned $0.90 EPS. Equities analysts predict that Starbucks Co. will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.98%. Starbucks's payout ratio is 78.71%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SBUX shares. Wells Fargo & Company reduced their target price on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday. Barclays decreased their price target on Starbucks from $124.00 to $106.00 and set an "overweight" rating for the company in a research report on Tuesday. UBS Group raised their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Royal Bank of Canada reiterated an "outperform" rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Finally, BMO Capital Markets raised their target price on Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $103.00.

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.