Mission Wealth Management LP Sells 2,807 Shares of Starbucks Co. (NASDAQ:SBUX)

Mission Wealth Management LP cut its stake in Starbucks Co. (NASDAQ:SBUX) by 9.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,006 shares of the coffee company’s stock after selling 2,807 shares during the quarter. Mission Wealth Management LP’s holdings in Starbucks were worth $2,468,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Willow Creek Wealth Management Inc. grew its position in Starbucks by 3.0% during the third quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock valued at $302,000 after buying an additional 97 shares during the period. First National Trust Co boosted its position in shares of Starbucks by 2.2% in the fourth quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock worth $483,000 after purchasing an additional 106 shares during the period. Quent Capital LLC boosted its position in shares of Starbucks by 2.8% in the fourth quarter. Quent Capital LLC now owns 4,004 shares of the coffee company’s stock worth $384,000 after purchasing an additional 108 shares during the period. Graybill Wealth Management LTD. boosted its position in shares of Starbucks by 0.3% in the fourth quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock worth $3,849,000 after purchasing an additional 109 shares during the period. Finally, Omega Financial Group LLC boosted its position in shares of Starbucks by 3.2% in the fourth quarter. Omega Financial Group LLC now owns 3,613 shares of the coffee company’s stock worth $347,000 after purchasing an additional 113 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SBUX. Wedbush reiterated a “neutral” rating and issued a $81.00 price target on shares of Starbucks in a research report on Friday, June 28th. Citigroup dropped their price target on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. TD Cowen reissued a “hold” rating and issued a $85.00 target price on shares of Starbucks in a report on Thursday, June 13th. Finally, Piper Sandler lowered their target price on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $94.54.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. Insiders have sold a total of 10,750 shares of company stock worth $878,893 in the last three months. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.3 %

Shares of NASDAQ SBUX traded down $0.21 during mid-day trading on Friday, reaching $76.05. The company had a trading volume of 9,663,107 shares, compared to its average volume of 9,612,150. The business’s 50-day moving average is $78.50 and its 200-day moving average is $87.36. The stock has a market cap of $86.14 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 1.67 and a beta of 0.94. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 3.58 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend 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.