Starbucks Co. (NASDAQ:SBUX) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp grew its position in Starbucks Co. (NASDAQ:SBUX) by 14.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 203,925 shares of the coffee company’s stock after acquiring an additional 25,304 shares during the period. Cibc World Markets Corp’s holdings in Starbucks were worth $18,608,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP grew its holdings in Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. FMR LLC grew its stake in 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 acquiring an additional 7,015,375 shares during the period. Raymond James Financial Inc. purchased a new stake in Starbucks in the 4th quarter worth $284,283,000. Assenagon Asset Management S.A. raised its position in Starbucks by 1,491.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock worth $256,282,000 after acquiring an additional 2,632,087 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Starbucks by 1,078.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after purchasing an additional 2,329,431 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 1.0 %

Starbucks stock opened at $99.08 on Tuesday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market cap of $112.54 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The company’s 50 day moving average is $104.94 and its two-hundred day moving average is $99.28.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the company earned $0.90 EPS. On average, equities research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SBUX has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Wedbush increased their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Stifel Nicolaus lifted their target price on shares of Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. UBS Group increased their price objective on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Barclays boosted their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

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.