National Bank of Canada FI Acquires 1,204,153 Shares of Starbucks Co. (NASDAQ:SBUX)

National Bank of Canada FI increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 89.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,553,739 shares of the coffee company’s stock after purchasing an additional 1,204,153 shares during the quarter. National Bank of Canada FI’s holdings in Starbucks were worth $196,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of SBUX. Vima LLC bought a new position in Starbucks during the 4th quarter valued at about $26,000. Scarborough Advisors LLC bought a new position in Starbucks during the fourth quarter valued at approximately $26,000. New Millennium Group LLC purchased a new stake in Starbucks in the second quarter worth approximately $26,000. Stephens Consulting LLC grew its position in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. Finally, DSM Capital Partners LLC purchased a new stake in Starbucks during the 4th quarter valued at $27,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on SBUX shares. Jefferies Financial Group cut their price objective on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Citigroup boosted their price target on Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $99.42.

Starbucks Stock Performance

Shares of Starbucks stock traded down $0.47 on Thursday, hitting $91.86. 2,148,743 shares of the company traded hands, compared to its average volume of 11,946,415. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The business has a 50-day simple moving average of $81.90 and a 200 day simple moving average of $83.90. The stock has a market capitalization of $104.10 billion, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96.

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

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.57 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.48%. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,790 shares of company stock valued at $865,514. 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.