Starbucks Corporation $SBUX Shares Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lifted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 30.1% during the first quarter, Holdings Channel.com reports. The fund owned 52,824 shares of the coffee company’s stock after acquiring an additional 12,208 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Starbucks were worth $4,733,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SBUX. Rachor Investment Advisory Services LLC acquired a new position in shares of Starbucks in the fourth quarter valued at about $25,000. Cornerstone Financial Management LLC acquired a new position in Starbucks during the fourth quarter worth about $25,000. Phillip James Consulting Co. acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $25,000. Entrust Financial LLC purchased a new position in shares of Starbucks during the 4th quarter worth $26,000. Finally, Tucker Asset Management LLC acquired a new position in Starbucks in the 4th quarter valued at about $27,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Brady Brewer sold 2,229 shares of Starbucks stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $104.00, for a total value of $231,816.00. Following the completion of the sale, the chief executive officer directly owned 77,364 shares of the company’s stock, valued at approximately $8,045,856. The trade was a 2.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sara Kelly sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $105.00, for a total value of $210,000.00. Following the completion of the transaction, the executive vice president owned 57,653 shares of the company’s stock, valued at $6,053,565. The trade was a 3.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,687 shares of company stock valued at $889,033 in the last three months. 0.03% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Cowen raised Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the stock from $106.00 to $120.00 in a research report on Thursday, May 14th. Guggenheim reaffirmed a “neutral” rating and issued a $97.00 price target (up from $95.00) on shares of Starbucks in a research report on Wednesday, April 29th. DA Davidson lifted their price objective on shares of Starbucks from $97.00 to $102.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. The Goldman Sachs Group downgraded Starbucks from a “neutral” rating to a “neutral” rating in a report on Thursday, May 14th. Finally, Robert W. Baird lifted their target price on Starbucks from $112.00 to $117.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Nineteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $109.42.

Starbucks Stock Up 0.4%

Shares of Starbucks stock opened at $103.65 on Tuesday. The firm has a market cap of $118.13 billion, a price-to-earnings ratio of 78.52, a price-to-earnings-growth ratio of 2.05 and a beta of 0.98. The company’s 50-day simple moving average is $102.27 and its 200-day simple moving average is $98.69. Starbucks Corporation has a 52-week low of $77.99 and a 52-week high of $109.23.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 28th. The coffee company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. The business had revenue of $9.53 billion during the quarter, compared to analysts’ expectations of $9.17 billion. Starbucks had a negative return on equity of 29.24% and a net margin of 3.89%.The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. Equities research analysts anticipate that Starbucks Corporation will post 2.41 EPS for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $0.62 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.4%. Starbucks’s dividend payout ratio (DPR) is currently 187.88%.

Starbucks Company Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.