Healthcare of Ontario Pension Plan Trust Fund Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

Healthcare of Ontario Pension Plan Trust Fund grew its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 1,078.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,545,419 shares of the coffee company's stock after purchasing an additional 2,329,431 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.22% of Starbucks worth $248,153,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dakota Wealth Management grew its holdings in shares of Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company's stock worth $5,439,000 after purchasing an additional 300 shares during the last quarter. Weil Company Inc. grew its holdings in Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company's stock worth $3,371,000 after acquiring an additional 8,222 shares during the last quarter. Maia Wealth LLC increased its position in Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company's stock valued at $1,805,000 after acquiring an additional 7,596 shares during the period. Aljian Capital Management LLC raised its stake in shares of Starbucks by 48.5% during the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company's stock valued at $2,966,000 after acquiring an additional 9,936 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Starbucks by 0.3% during the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company's stock worth $327,771,000 after purchasing an additional 9,900 shares during the period. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SBUX shares. Wells Fargo & Company raised their target price on Starbucks from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday. BTIG Research lifted their price objective on Starbucks from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. BMO Capital Markets increased their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, September 9th. JPMorgan Chase & Co. boosted their price target on shares of Starbucks from $90.00 to $105.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Finally, Evercore ISI upgraded shares of Starbucks from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $103.77.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the company's stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company's stock.

Starbucks Stock Performance

Shares of Starbucks stock traded up $0.83 on Wednesday, hitting $101.51. 4,856,733 shares of the company traded hands, compared to its average volume of 11,009,467. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The business has a 50-day simple moving average of $97.30 and a 200 day simple moving average of $87.55. The stock has a market capitalization of $115.09 billion, a P/E ratio of 30.42, a price-to-earnings-growth ratio of 2.98 and a beta of 0.97.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to analysts' expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business's revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 EPS. Research analysts expect that Starbucks Co. will post 3.12 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Starbucks's previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.40%. Starbucks's dividend payout ratio is 73.72%.

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.