Canada Pension Plan Investment Board Has $140.81 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Canada Pension Plan Investment Board increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 27.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,808,671 shares of the coffee company’s stock after buying an additional 394,267 shares during the period. Canada Pension Plan Investment Board owned 0.16% of Starbucks worth $140,805,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC raised its position in shares of Starbucks by 96.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock valued at $508,000 after buying an additional 2,558 shares in the last quarter. TrinityPoint Wealth LLC acquired a new position in shares of Starbucks during the fourth quarter worth $230,000. WBI Investments LLC acquired a new position in Starbucks during the 4th quarter worth about $239,000. Commerce Bank increased its position in Starbucks by 1.0% during the 4th quarter. Commerce Bank now owns 190,335 shares of the coffee company’s stock valued at $18,274,000 after purchasing an additional 1,905 shares during the period. Finally, SageView Advisory Group LLC grew its holdings in Starbucks by 240.4% during the 4th quarter. SageView Advisory Group LLC now owns 20,617 shares of the coffee company’s stock worth $1,940,000 after acquiring an additional 14,561 shares during the period. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

NASDAQ:SBUX opened at $96.05 on Friday. The company’s 50-day simple moving average is $86.67 and its 200 day simple moving average is $84.09. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The firm has a market capitalization of $108.84 billion, a P/E ratio of 26.46, a PEG ratio of 2.31 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 earnings per share. On average, equities research analysts expect that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on SBUX. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. Wedbush restated a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a report on Tuesday, August 13th. Jefferies Financial Group lowered their price objective on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $100.08.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

About Starbucks

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.