Bank of Montreal Can Has $143.20 Million Holdings in Starbucks Corporation $SBUX

Bank of Montreal Can cut its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 11.0% in the second quarter, Holdings Channel reports. The institutional investor owned 1,562,754 shares of the coffee company’s stock after selling 193,564 shares during the quarter. Bank of Montreal Can’s holdings in Starbucks were worth $143,195,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Alliance Wealth Advisors LLC lifted its holdings in shares of Starbucks by 2.1% during the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after buying an additional 108 shares during the last quarter. Brown Lisle Cummings Inc. raised its stake in shares of Starbucks by 1.4% in the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock valued at $760,000 after purchasing an additional 117 shares in the last quarter. Diligent Investors LLC raised its stake in shares of Starbucks by 1.9% in the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock valued at $562,000 after purchasing an additional 117 shares in the last quarter. Ted Buchan & Co raised its stake in shares of Starbucks by 1.5% in the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after purchasing an additional 120 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. raised its stake in shares of Starbucks by 3.5% in the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock valued at $349,000 after purchasing an additional 122 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on SBUX. BTIG Research restated a “buy” rating and issued a $105.00 target price on shares of Starbucks in a research note on Thursday, October 30th. Barclays cut their target price on Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. UBS Group set a $94.00 target price on Starbucks and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Loop Capital set a $165.00 target price on Starbucks in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. increased their price objective on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $100.50.

Starbucks Price Performance

Starbucks stock opened at $80.96 on Tuesday. The stock has a fifty day moving average price of $84.33 and a two-hundred day moving average price of $87.51. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a market capitalization of $92.03 billion, a P/E ratio of 49.37, a P/E/G ratio of 4.28 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The company had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.80 earnings per share. On average, equities research analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio is 151.22%.

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.