Cibc World Markets Corp Has $8.89 Million Position in Starbucks Corporation (SBUX)
Cibc World Markets Corp boosted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 20.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,207 shares of the coffee company’s stock after buying an additional 25,373 shares during the period. Cibc World Markets Corp’s holdings in Starbucks Corporation were worth $8,887,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in SBUX. Ameriprise Financial Inc. raised its position in Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock worth $827,444,000 after buying an additional 3,511,080 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Starbucks Corporation by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock valued at $1,796,675,000 after buying an additional 2,234,324 shares during the last quarter. Swiss National Bank raised its stake in shares of Starbucks Corporation by 24.0% in the first quarter. Swiss National Bank now owns 5,681,144 shares of the coffee company’s stock valued at $331,722,000 after buying an additional 1,099,100 shares during the last quarter. Haverford Trust Co. bought a new stake in shares of Starbucks Corporation during the first quarter valued at about $49,787,000. Finally, Karp Capital Management Corp raised its stake in shares of Starbucks Corporation by 2,225.0% in the first quarter. Karp Capital Management Corp now owns 737,008 shares of the coffee company’s stock valued at $43,034,000 after buying an additional 705,309 shares during the last quarter. Institutional investors own 70.99% of the company’s stock.
Shares of Starbucks Corporation (NASDAQ SBUX) traded up 0.228% on Friday, hitting $54.985. 2,489,017 shares of the company traded hands. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The firm’s 50 day moving average price is $55.41 and its 200-day moving average price is $58.07. The stock has a market capitalization of $79.39 billion, a price-to-earnings ratio of 27.756 and a beta of 0.80.
Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. On average, equities research analysts expect that Starbucks Corporation will post $2.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Thursday, August 10th were given a $0.25 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. Starbucks Corporation’s dividend payout ratio is presently 50.76%.
Several equities research analysts have issued reports on SBUX shares. Jefferies Group LLC reiterated an “average” rating and set a $65.00 target price on shares of Starbucks Corporation in a research report on Friday, July 28th. BidaskClub lowered shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Deutsche Bank AG upgraded shares of Starbucks Corporation from a “hold” rating to a “buy” rating and lifted their target price for the company from $59.00 to $69.00 in a research report on Monday, May 15th. UBS AG set a $70.00 target price on shares of Starbucks Corporation and gave the company a “buy” rating in a research report on Saturday, May 13th. Finally, Stifel Nicolaus upgraded shares of Starbucks Corporation to a “buy” rating in a research report on Saturday, May 13th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $64.64.
In related news, Director Jorgen Vig Knudstorp purchased 18,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was bought at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the transaction, the director now directly owns 18,000 shares in the company, valued at $995,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Myron E. Ullman III sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total value of $606,300.00. Following the completion of the sale, the director now owns 24,000 shares of the company’s stock, valued at $1,455,120. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.
About Starbucks Corporation
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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