Caisse DE Depot ET Placement DU Quebec Has $72.55 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Caisse DE Depot ET Placement DU Quebec trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 744,200 shares of the coffee company’s stock after selling 30,800 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.07% of Starbucks worth $72,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in SBUX. Dakota Wealth Management increased its stake in shares of Starbucks by 0.5% during the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after purchasing an additional 300 shares during the last quarter. Weil Company Inc. boosted its holdings in Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after purchasing an additional 8,222 shares in the last quarter. Maia Wealth LLC increased its position in Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after buying an additional 7,596 shares during the last quarter. Aljian Capital Management LLC raised its holdings in Starbucks by 48.5% during the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after buying an additional 9,936 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Starbucks by 0.3% in the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock worth $327,771,000 after buying an additional 9,900 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now 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 disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SBUX shares. BMO Capital Markets increased their price objective on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. UBS Group boosted their price objective on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Finally, Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $103.77.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $102.46 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The company’s 50-day moving average is $97.63 and its 200 day moving average is $88.01. The company has a market capitalization of $116.17 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 3.00 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the firm posted $1.06 EPS. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, research analysts predict that Starbucks Co. will post 3.12 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

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.