CIBC Asset Management Inc Buys 10,080 Shares of Starbucks Co. (NASDAQ:SBUX)

CIBC Asset Management Inc increased its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 392,414 shares of the coffee company's stock after buying an additional 10,080 shares during the quarter. CIBC Asset Management Inc's holdings in Starbucks were worth $35,808,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SBUX. Stratos Wealth Partners LTD. grew its holdings in Starbucks by 6.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 86,276 shares of the coffee company's stock worth $8,411,000 after buying an additional 4,942 shares in the last quarter. Blue Trust Inc. boosted its stake in Starbucks by 34.5% during the 3rd quarter. Blue Trust Inc. now owns 13,634 shares of the coffee company's stock valued at $1,329,000 after purchasing an additional 3,494 shares in the last quarter. Friedenthal Financial bought a new position in Starbucks during the 3rd quarter valued at $50,000. Raymond James & Associates boosted its stake in Starbucks by 3.4% during the 3rd quarter. Raymond James & Associates now owns 1,665,571 shares of the coffee company's stock valued at $162,376,000 after purchasing an additional 54,831 shares in the last quarter. Finally, Chicago Capital LLC boosted its stake in Starbucks by 0.6% during the 3rd quarter. Chicago Capital LLC now owns 21,129 shares of the coffee company's stock valued at $2,060,000 after purchasing an additional 132 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded up $0.85 during midday trading on Thursday, hitting $113.34. 6,340,640 shares of the stock were exchanged, compared to its average volume of 9,794,619. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $113.50. The business's fifty day simple moving average is $99.13 and its two-hundred day simple moving average is $96.77. The company has a market capitalization of $128.74 billion, a PE ratio of 36.56, a P/E/G ratio of 3.56 and a beta of 1.00.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter last year, the business earned $0.90 earnings per share. As a group, equities analysts anticipate that Starbucks Co. will post 3 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wedbush increased their price target on Starbucks from $95.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Barclays increased their price target on Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Wells Fargo & Company increased their price target on Starbucks from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Finally, UBS Group increased their price target on Starbucks from $98.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Starbucks currently has an average rating of "Moderate Buy" and a consensus price target of $105.33.

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.