CI Global Investments Inc. Buys 1,523 Shares of Starbucks Co. (SBUX)

CI Global Investments Inc. boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,363 shares of the coffee company’s stock after purchasing an additional 1,523 shares during the period. CI Global Investments Inc.’s holdings in Starbucks were worth $6,841,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BSW Wealth Partners acquired a new stake in Starbucks in the 3rd quarter valued at $302,000. Rafferty Asset Management LLC increased its holdings in Starbucks by 16.0% in the 3rd quarter. Rafferty Asset Management LLC now owns 34,605 shares of the coffee company’s stock valued at $1,967,000 after purchasing an additional 4,768 shares in the last quarter. Ffcm LLC increased its holdings in Starbucks by 61.9% in the 3rd quarter. Ffcm LLC now owns 111,876 shares of the coffee company’s stock valued at $6,359,000 after purchasing an additional 42,770 shares in the last quarter. Bahl & Gaynor Inc. increased its holdings in Starbucks by 148.5% in the 3rd quarter. Bahl & Gaynor Inc. now owns 1,700,485 shares of the coffee company’s stock valued at $96,655,000 after purchasing an additional 1,016,225 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its position in Starbucks by 2.2% in the 3rd quarter. Wesbanco Bank Inc. now owns 39,557 shares of the coffee company’s stock valued at $2,249,000 after buying an additional 868 shares during the last quarter. Hedge funds and other institutional investors own 71.14% of the company’s stock.

Shares of SBUX stock opened at $65.70 on Monday. The company has a current ratio of 2.20, a quick ratio of 1.95 and a debt-to-equity ratio of 7.73. Starbucks Co. has a one year low of $47.37 and a one year high of $68.98. The stock has a market cap of $81.51 billion, a PE ratio of 27.15, a P/E/G ratio of 1.84 and a beta of 0.48.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 1st. The coffee company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The business had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter last year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, analysts anticipate that Starbucks Co. will post 2.65 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.44 annualized dividend and a dividend yield of 2.19%. Starbucks’s payout ratio is 59.50%.

In other news, Director Myron E. Ullman III sold 99,166 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $55.05, for a total transaction of $5,459,088.30. Following the transaction, the director now owns 29,000 shares of the company’s stock, valued at $1,596,450. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.40% of the company’s stock.

A number of equities analysts have weighed in on SBUX shares. Wells Fargo & Co upped their price objective on shares of Starbucks from $60.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, October 17th. Zacks Investment Research cut shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. KeyCorp reissued a “buy” rating on shares of Starbucks in a research report on Thursday, October 4th. BidaskClub raised shares of Starbucks from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Finally, Telsey Advisory Group upped their price objective on shares of Starbucks from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, October 29th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $64.69.

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Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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