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

Healthcare of Ontario Pension Plan Trust Fund raised its position in Starbucks Co. (NASDAQ:SBUX) by 1,078.5% during the third quarter, HoldingsChannel reports. The firm owned 2,545,419 shares of the coffee company’s stock after buying an additional 2,329,431 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Starbucks were worth $248,153,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SBUX. Dakota Wealth Management grew its position in shares of Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after buying an additional 300 shares during the last quarter. Weil Company Inc. grew its position 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 purchasing an additional 8,222 shares during the last quarter. Maia Wealth LLC grew its position in Starbucks by 69.1% during the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares during the last quarter. Aljian Capital Management LLC grew its position in Starbucks by 48.5% during the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after purchasing an additional 9,936 shares during the last quarter. Finally, Swiss National Bank grew its position 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 last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on SBUX shares. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research report on Wednesday, August 21st. Wells Fargo & Company raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wedbush reduced their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Stifel Nicolaus raised their target price on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $103.77.

Starbucks Stock Performance

Starbucks stock opened at $100.68 on Wednesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The firm has a 50 day moving average price of $97.30 and a 200 day moving average price of $87.55. The company has a market cap of $114.15 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 2.98 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the firm earned $1.06 earnings per share. Starbucks’s revenue was down 3.2% compared to the same quarter last year. Sell-side analysts predict that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.42%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is 73.72%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’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 sale, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at $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. 1.98% of the stock is currently owned by corporate insiders.

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.