Mountain Capital Investment Advisors Inc Sells 3,481 Shares of Starbucks Co. (NASDAQ:SBUX)

Mountain Capital Investment Advisors Inc reduced its position in Starbucks Co. (NASDAQ:SBUX) by 22.1% in the 4th quarter, Holdings Channel reports. The firm owned 12,246 shares of the coffee company’s stock after selling 3,481 shares during the quarter. Mountain Capital Investment Advisors Inc’s holdings in Starbucks were worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. HBW Advisory Services LLC lifted its position in Starbucks by 4.5% in the fourth quarter. HBW Advisory Services LLC now owns 39,278 shares of the coffee company’s stock worth $4,202,000 after purchasing an additional 1,676 shares during the period. Worldquant Millennium Advisors LLC bought a new position in shares of Starbucks during the third quarter valued at $8,603,000. CHURCHILL MANAGEMENT Corp lifted its holdings in shares of Starbucks by 180.5% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 293,912 shares of the coffee company’s stock valued at $31,443,000 after acquiring an additional 189,125 shares during the period. Townsquare Capital LLC lifted its holdings in shares of Starbucks by 11.9% during the third quarter. Townsquare Capital LLC now owns 161,703 shares of the coffee company’s stock valued at $14,071,000 after acquiring an additional 17,194 shares during the period. Finally, King Luther Capital Management Corp lifted its holdings in shares of Starbucks by 28.5% during the third quarter. King Luther Capital Management Corp now owns 220,566 shares of the coffee company’s stock valued at $18,951,000 after acquiring an additional 48,901 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Shares of SBUX stock opened at $102.89 on Thursday. The stock has a 50-day moving average price of $102.77 and a 200 day moving average price of $88.46. The firm has a market cap of $120.28 billion, a price-to-earnings ratio of 92.69, a PEG ratio of 2.26 and a beta of 0.81. Starbucks Co. has a 12 month low of $50.02 and a 12 month high of $107.75.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, October 29th. The coffee company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.20. The firm had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.07 billion. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. The company’s revenue was down 8.1% on a year-over-year basis. During the same period last year, the company earned $0.70 earnings per share. On average, analysts expect that Starbucks Co. will post 0.99 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 5th. Stockholders of record on Thursday, February 18th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.75%. Starbucks’s payout ratio is currently 63.60%.

In other news, Director Javier G. Teruel sold 46,778 shares of the business’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $95.70, for a total transaction of $4,476,654.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin R. Johnson sold 107,764 shares of the business’s stock in a transaction dated Tuesday, November 17th. The stock was sold at an average price of $98.43, for a total value of $10,607,210.52. The disclosure for this sale can be found here. Insiders have sold a total of 269,489 shares of company stock valued at $26,173,565 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.

A number of research analysts have issued reports on SBUX shares. Barclays lifted their price objective on Starbucks from $103.00 to $112.00 in a report on Friday, December 4th. Morgan Stanley lifted their price objective on Starbucks from $98.00 to $106.00 and gave the company an “equal weight” rating in a report on Thursday, December 10th. Cowen lifted their price objective on Starbucks from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, December 10th. Wedbush lifted their price objective on Starbucks from $101.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, December 10th. Finally, Telsey Advisory Group lifted their price target on Starbucks from $94.00 to $102.00 and gave the company a “market perform” rating in a report on Thursday, December 10th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $96.62.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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