Starbucks Co. (NASDAQ:SBUX) Stake Lessened by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 256,277 shares of the coffee company's stock after selling 27,751 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Starbucks were worth $23,731,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Strategic Financial Concepts LLC acquired a new stake in Starbucks in the fourth quarter valued at approximately $62,000. Arizona State Retirement System grew its holdings in Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock valued at $29,881,000 after purchasing an additional 2,722 shares in the last quarter. West Michigan Advisors LLC purchased a new stake in Starbucks during the 4th quarter worth $265,000. Wernau Asset Management Inc. acquired a new position in Starbucks in the 4th quarter worth $258,000. Finally, Investment Management Corp of Ontario boosted its position in Starbucks by 48.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company's stock valued at $3,664,000 after buying an additional 12,300 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their target price on Starbucks from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 25th. UBS Group lifted their price objective on Starbucks from $98.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Stifel Nicolaus increased their target price on Starbucks from $110.00 to $114.00 and gave the company a "buy" rating in a research note on Monday, January 27th. BMO Capital Markets lifted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 29th. Finally, Barclays upped their price target on shares of Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Starbucks has a consensus rating of "Moderate Buy" and a consensus target price of $106.12.

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Starbucks Trading Up 1.2 %

NASDAQ:SBUX traded up $1.18 during mid-day trading on Wednesday, hitting $99.41. The stock had a trading volume of 6,033,966 shares, compared to its average volume of 11,109,005. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $117.46. The stock has a market capitalization of $112.92 billion, a price-to-earnings ratio of 32.07, a P/E/G ratio of 3.59 and a beta of 0.99. The company has a 50 day simple moving average of $105.84 and a 200-day simple moving average of $99.54.

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 (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 in the prior year, the firm earned $0.90 earnings per share. As a group, equities research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.45%. Starbucks's dividend payout ratio (DPR) is 78.71%.

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.