Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Investment Management Corp of Ontario

Investment Management Corp of Ontario raised its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 48.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,584 shares of the coffee company's stock after buying an additional 12,300 shares during the period. Investment Management Corp of Ontario's holdings in Starbucks were worth $3,664,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FMR LLC grew its position in shares of Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company's stock valued at $1,928,339,000 after buying an additional 7,015,375 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Starbucks by 2.9% in the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company's stock valued at $1,146,744,000 after buying an additional 327,734 shares during the last quarter. Legal & General Group Plc grew its position in shares of Starbucks by 2.6% during the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company's stock worth $678,923,000 after acquiring an additional 221,718 shares during the last quarter. Van ECK Associates Corp raised its position in Starbucks by 108.1% in the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company's stock valued at $348,391,000 after purchasing an additional 2,324,847 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Starbucks by 0.3% during the 3rd 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 hedge funds and other institutional investors.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the firm's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares of the company's stock, 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company's stock, valued at approximately $3,316,143. The trade was a 1.06 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company's stock.

Starbucks Price Performance

SBUX stock traded down $0.76 during midday trading on Wednesday, reaching $100.81. 2,280,647 shares of the company's stock traded hands, compared to its average volume of 10,901,494. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The business has a 50-day moving average price of $97.89 and a two-hundred day moving average price of $88.45. The company has a market capitalization of $114.30 billion, a P/E ratio of 30.69, a PEG ratio of 2.97 and a beta of 0.97.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 EPS. As a group, research analysts forecast that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.61 dividend. This is an increase from Starbucks's previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.42%. Starbucks's dividend payout ratio (DPR) is 73.72%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SBUX shares. Wedbush lowered their price target on Starbucks from $98.00 to $95.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Barclays decreased their price target on Starbucks from $110.00 to $108.00 and set an "overweight" rating on the stock in a research note on Thursday, October 31st. UBS Group boosted their price objective on shares of Starbucks from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Oppenheimer reiterated a "market perform" rating on shares of Starbucks in a research report on Monday, August 26th. Finally, Morgan Stanley lifted their price objective on Starbucks from $98.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Starbucks has an average rating of "Moderate Buy" and an average price target of $103.77.

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.