Starbucks Co. (NASDAQ:SBUX) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,446 shares of the coffee company’s stock after selling 2,117 shares during the period. Mission Wealth Management LP’s holdings in Starbucks were worth $1,774,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SBUX. Opes Wealth Management LLC purchased a new stake in shares of Starbucks during the 3rd quarter valued at about $203,000. Robeco Institutional Asset Management B.V. grew its position in Starbucks by 6.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 45,446 shares of the coffee company’s stock valued at $4,431,000 after acquiring an additional 2,590 shares in the last quarter. Ground Swell Capital LLC purchased a new stake in shares of Starbucks during the third quarter valued at approximately $1,343,000. Vestor Capital LLC lifted its position in shares of Starbucks by 42.8% during the third quarter. Vestor Capital LLC now owns 2,605 shares of the coffee company’s stock worth $254,000 after purchasing an additional 781 shares in the last quarter. Finally, Chaney Capital Management Inc. boosted its stake in shares of Starbucks by 32.9% in the third quarter. Chaney Capital Management Inc. now owns 10,423 shares of the coffee company’s stock valued at $1,016,000 after purchasing an additional 2,578 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

SBUX stock opened at $115.41 on Tuesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The stock has a market capitalization of $131.09 billion, a price-to-earnings ratio of 37.23, a PEG ratio of 3.59 and a beta of 1.00. The stock’s fifty day moving average is $102.67 and its two-hundred day moving average is $98.68.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the prior year, the firm posted $0.90 EPS. As a group, analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Starbucks from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Wedbush lifted their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. TD Cowen reiterated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Stifel Nicolaus raised their price objective on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, BMO Capital Markets upped their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average price target of $105.75.

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.