Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 14.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 203,925 shares of the coffee company’s stock after acquiring an additional 25,304 shares during the quarter. Cibc World Markets Corp’s holdings in Starbucks were worth $18,608,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Financial Life Planners purchased a new position in Starbucks in the fourth quarter valued at approximately $25,000. Collier Financial purchased a new position in shares of Starbucks in the 4th quarter valued at $27,000. Marshall Investment Management LLC acquired a new stake in Starbucks during the 4th quarter worth $30,000. Noble Wealth Management PBC purchased a new stake in Starbucks in the fourth quarter valued at $30,000. Finally, Centricity Wealth Management LLC acquired a new position in Starbucks in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 1.0 %

Shares of SBUX opened at $99.08 on Tuesday. The company has a 50-day simple moving average of $104.94 and a 200-day simple moving average of $99.28. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The company has a market capitalization of $112.54 billion, a PE ratio of 31.96, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping the consensus estimate 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 period last year, the firm posted $0.90 EPS. On average, research analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on SBUX. Stifel Nicolaus boosted their target price on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. BMO Capital Markets lifted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Wells Fargo & Company increased their price objective on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Barclays lifted their target price on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Wedbush increased their price target on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.75.

Starbucks 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.