CIBC Asset Management Inc Has $35.81 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

CIBC Asset Management Inc raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 392,414 shares of the coffee company’s stock after buying an additional 10,080 shares during the quarter. CIBC Asset Management Inc’s holdings in Starbucks were worth $35,808,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in shares of Starbucks in the fourth quarter worth $25,000. Collier Financial bought a new stake in shares of Starbucks in the fourth quarter valued at about $27,000. DT Investment Partners LLC grew its position in Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares in the last quarter. FSA Wealth Management LLC bought a new position in Starbucks during the third quarter valued at about $49,000. Finally, Friedenthal Financial bought a new stake in shares of Starbucks in the 3rd quarter worth approximately $50,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

NASDAQ SBUX opened at $112.55 on Monday. The stock has a market capitalization of $127.85 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 3.52 and a beta of 1.00. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $113.47. The stock’s 50 day moving average price is $98.28 and its two-hundred day moving average price is $96.14.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the prior year, the business posted $0.90 earnings per share. On average, equities research analysts forecast that Starbucks Co. will post 3 EPS for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.17%. Starbucks’s dividend payout ratio is presently 78.71%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SBUX shares. Wells Fargo & Company boosted their price objective on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. UBS Group raised their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Citigroup boosted their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Bank of America dropped their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Finally, Wedbush boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $105.33.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Starbucks Company 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.