Mountain Capital Investment Advisors Inc Lowers Position in Starbucks Co. (NASDAQ:SBUX)


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Mountain Capital Investment Advisors Inc decreased its position in Starbucks Co. (NASDAQ:SBUX) by 22.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,246 shares of the coffee company’s stock after selling 3,481 shares during the period. Mountain Capital Investment Advisors Inc’s holdings in Starbucks were worth $1,281,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. American Research & Management Co. boosted its holdings in shares of Starbucks by 225.0% in the third quarter. American Research & Management Co. now owns 325 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 225 shares in the last quarter. Price Wealth LLC boosted its holdings in shares of Starbucks by 237.4% in the third quarter. Price Wealth LLC now owns 361 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 254 shares in the last quarter. CVA Family Office LLC purchased a new stake in shares of Starbucks in the third quarter valued at about $31,000. Rocky Mountain Advisers LLC purchased a new stake in shares of Starbucks in the third quarter valued at about $34,000. Finally, Kathmere Capital Management LLC purchased a new stake in shares of Starbucks in the third quarter valued at about $47,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Starbucks from $103.00 to $112.00 in a report on Friday, December 4th. Morgan Stanley raised their price objective on shares of Starbucks from $98.00 to $106.00 and gave the company an “equal weight” rating in a research note on Thursday, December 10th. Jefferies Financial Group raised their price objective on shares of Starbucks from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, December 10th. JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, October 20th. Finally, Royal Bank of Canada raised their price objective on shares of Starbucks from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, December 10th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $96.62.

In related news, Director Myron E. Ullman III sold 4,258 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $87.56, for a total value of $372,830.48. Following the sale, the director now directly owns 22,782 shares of the company’s stock, valued at $1,994,791.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joshua Cooper Ramo sold 2,925 shares of the company’s stock in a transaction on Wednesday, November 25th. The shares were sold at an average price of $98.28, for a total transaction of $287,469.00. Following the completion of the sale, the director now directly owns 25,200 shares in the company, valued at $2,476,656. The disclosure for this sale can be found here. Insiders sold 269,489 shares of company stock valued at $26,173,565 over the last 90 days. Insiders own 0.41% of the company’s stock.

SBUX opened at $102.89 on Thursday. Starbucks Co. has a 52-week low of $50.02 and a 52-week high of $107.75. The company has a 50 day moving average of $102.77 and a two-hundred day moving average of $88.46. The company has a market cap of $120.28 billion, a P/E ratio of 92.69, a P/E/G ratio of 2.26 and a beta of 0.81.

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

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

Starbucks 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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