Industrial Alliance Investment Management Inc. Has $310,000 Holdings in Starbucks Co. (NASDAQ:SBUX)

Industrial Alliance Investment Management Inc. increased its stake in Starbucks Co. (NASDAQ:SBUX) by 4.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,395 shares of the coffee company’s stock after purchasing an additional 143 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Starbucks were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Starbucks in the 4th quarter valued at about $1,240,652,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Starbucks in the 1st quarter valued at about $415,167,000. Flossbach Von Storch AG raised its holdings in shares of Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after purchasing an additional 2,897,282 shares during the period. Capital World Investors bought a new stake in shares of Starbucks in the 1st quarter valued at about $257,721,000. Finally, Van ECK Associates Corp raised its holdings in shares of Starbucks by 2,624.3% in the 1st quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock valued at $196,516,000 after purchasing an additional 2,071,378 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SBUX shares. Stifel Nicolaus dropped their target price on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. The Goldman Sachs Group started coverage on shares of Starbucks in a report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target on the stock. UBS Group lowered their price target on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Jefferies Financial Group lowered their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Hold” and an average price target of $91.67.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,250 shares of company stock worth $579,375. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Up 4.2 %

Shares of SBUX stock traded up $3.16 during trading hours on Wednesday, hitting $79.10. 10,233,476 shares of the company’s stock traded hands, compared to its average volume of 10,735,135. The stock’s 50 day simple moving average is $77.79 and its 200 day simple moving average is $84.89. The stock has a market cap of $89.60 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 1.70 and a beta of 0.94. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the firm earned $1.00 earnings per share. Starbucks’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities research analysts expect that Starbucks Co. will post 3.57 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

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.