Ontario Teachers Pension Plan Board Has $450.04 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Ontario Teachers Pension Plan Board reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 15.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,616,281 shares of the coffee company's stock after selling 831,502 shares during the period. Starbucks accounts for about 3.8% of Ontario Teachers Pension Plan Board's investment portfolio, making the stock its 12th largest holding. Ontario Teachers Pension Plan Board owned about 0.41% of Starbucks worth $450,041,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Legal & General Group Plc boosted its holdings in shares of Starbucks by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company's stock valued at $678,923,000 after acquiring an additional 221,718 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Starbucks by 108.1% in the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company's stock worth $348,391,000 after buying an additional 2,324,847 shares during the last quarter. Swiss National Bank grew its position in Starbucks by 0.3% during the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company's stock valued at $327,771,000 after buying an additional 9,900 shares during the period. Marshall Wace LLP raised its holdings in Starbucks by 1,466.3% in the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company's stock worth $260,870,000 after purchasing an additional 3,136,992 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its holdings in Starbucks by 3.9% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 3,255,967 shares of the coffee company's stock worth $317,424,000 after acquiring an additional 122,886 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the transaction, the chief financial officer now owns 65,648 shares in the company, valued at $6,503,747.36. This trade represents a 2.16 % 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 that occurred on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of 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. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on SBUX. Morgan Stanley boosted their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Robert W. Baird raised shares of Starbucks from a "neutral" rating to an "outperform" rating and upped their price target for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. TD Cowen reissued a "buy" rating and issued a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Wedbush lowered their price target on shares of Starbucks from $98.00 to $95.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Finally, BMO Capital Markets raised their price objective on Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, September 9th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Starbucks presently has an average rating of "Moderate Buy" and an average target price of $102.81.

Starbucks Stock Down 0.1 %

Shares of Starbucks stock traded down $0.09 during trading on Wednesday, hitting $98.26. The stock had a trading volume of 7,526,552 shares, compared to its average volume of 11,104,876. The company has a market capitalization of $111.35 billion, a PE ratio of 29.71, a P/E/G ratio of 2.85 and a beta of 0.97. The stock has a 50 day simple moving average of $97.01 and a 200 day simple moving average of $86.62. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $104.68.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the business posted $1.06 EPS. The company's revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities analysts expect that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Starbucks's previous quarterly dividend of $0.57. Starbucks's dividend payout ratio is currently 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.