Cibc World Market Inc. Acquires 135,533 Shares of Starbucks Corporation $SBUX

Cibc World Market Inc. grew its holdings in Starbucks Corporation (NASDAQ:SBUX) by 63.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 350,441 shares of the coffee company’s stock after acquiring an additional 135,533 shares during the period. Cibc World Market Inc.’s holdings in Starbucks were worth $29,511,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SBUX. Evolution Wealth Management Inc. grew its stake in Starbucks by 2,561.0% during the fourth quarter. Evolution Wealth Management Inc. now owns 2,661 shares of the coffee company’s stock valued at $224,000 after acquiring an additional 2,561 shares in the last quarter. Archvest Wealth Advisors Inc. purchased a new stake in Starbucks in the 4th quarter worth $2,955,000. Sarver Vrooman Wealth Advisors bought a new position in shares of Starbucks during the 4th quarter valued at about $34,000. WCG Wealth Advisors LLC grew its position in shares of Starbucks by 104.1% during the fourth quarter. WCG Wealth Advisors LLC now owns 67,598 shares of the coffee company’s stock valued at $5,693,000 after purchasing an additional 34,476 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Starbucks by 31.9% during the fourth quarter. CIBC Asset Management Inc now owns 504,282 shares of the coffee company’s stock valued at $42,466,000 after purchasing an additional 122,064 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of Starbucks stock opened at $94.14 on Friday. The stock has a market cap of $107.29 billion, a price-to-earnings ratio of 71.32, a price-to-earnings-growth ratio of 1.89 and a beta of 0.98. The stock has a 50 day moving average price of $99.19 and a 200-day moving average price of $94.09. Starbucks Corporation has a one year low of $77.99 and a one year high of $108.88.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 28th. The coffee company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. The company had revenue of $9.53 billion for the quarter, compared to analyst estimates of $9.17 billion. Starbucks had a negative return on equity of 29.24% and a net margin of 3.89%.Starbucks’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. Starbucks has set its FY 2026 guidance at 2.250-2.450 EPS. Sell-side analysts predict that Starbucks Corporation will post 2.42 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.48 annualized dividend and a dividend yield of 2.6%. Starbucks’s dividend payout ratio is currently 187.88%.

Insider Activity

In related news, CEO Brady Brewer sold 2,229 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $104.81, for a total value of $233,621.49. Following the sale, the chief executive officer directly owned 81,559 shares of the company’s stock, valued at $8,548,198.79. This represents a 2.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sara Kelly sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $105.00, for a total transaction of $210,000.00. Following the completion of the sale, the executive vice president directly owned 57,653 shares of the company’s stock, valued at approximately $6,053,565. The trade was a 3.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,046 shares of company stock valued at $708,911 in the last 90 days. Company insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SBUX. Stephens initiated coverage on Starbucks in a research report on Thursday, May 14th. They issued an “overweight” rating on the stock. DA Davidson raised their price target on Starbucks from $97.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a report on Wednesday, April 22nd. Sanford C. Bernstein reiterated an “outperform” rating on shares of Starbucks in a research report on Wednesday, March 4th. Finally, The Goldman Sachs Group lowered shares of Starbucks from a “neutral” rating to a “neutral” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.48.

About Starbucks

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.