Mission Wealth Management LP Purchases 2,071 Shares of Starbucks Co. (NASDAQ:SBUX)

Mission Wealth Management LP grew its position in Starbucks Co. (NASDAQ:SBUX) by 7.5% during the fourth quarter, HoldingsChannel reports. The firm owned 29,813 shares of the coffee company’s stock after buying an additional 2,071 shares during the period. Mission Wealth Management LP’s holdings in Starbucks were worth $2,862,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Starbucks by 0.4% during the third quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock worth $9,756,001,000 after acquiring an additional 387,632 shares in the last quarter. Northern Trust Corp boosted its stake in Starbucks by 1.5% during the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock worth $1,388,924,000 after acquiring an additional 232,031 shares in the last quarter. Invesco Ltd. boosted its stake in Starbucks by 11.8% during the third quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock worth $962,144,000 after acquiring an additional 1,115,051 shares in the last quarter. Nordea Investment Management AB boosted its stake in Starbucks by 44.8% during the fourth quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock worth $493,350,000 after acquiring an additional 1,591,206 shares in the last quarter. Finally, Jensen Investment Management Inc. boosted its stake in Starbucks by 2.8% during the third quarter. Jensen Investment Management Inc. now owns 4,956,442 shares of the coffee company’s stock worth $452,374,000 after acquiring an additional 133,620 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 7,250 shares of company stock worth $651,738 over the last quarter. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of Starbucks from a “buy” rating to a “hold” rating and cut their target price for the stock from $108.00 to $89.00 in a research note on Wednesday. Citigroup lowered their price objective on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Piper Sandler lowered their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. TD Cowen lowered their target price on shares of Starbucks from $100.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Sixteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and an average price target of $103.86.

Starbucks Stock Performance

SBUX stock opened at $88.49 on Wednesday. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48. The company’s 50 day moving average price is $90.17 and its two-hundred day moving average price is $94.25. The company has a market capitalization of $100.19 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 1.49 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, research analysts predict that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is currently 60.96%.

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.