Mission Wealth Management LP Buys 1,304 Shares of Starbucks Co. (NASDAQ:SBUX)

Mission Wealth Management LP grew its stake in Starbucks Co. (NASDAQ:SBUXGet Rating) by 5.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,477 shares of the coffee company’s stock after purchasing an additional 1,304 shares during the quarter. Mission Wealth Management LP’s holdings in Starbucks were worth $2,318,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Apella Capital LLC bought a new stake in shares of Starbucks in the 4th quarter valued at $564,000. SOA Wealth Advisors LLC. increased its position in shares of Starbucks by 3.7% in the fourth quarter. SOA Wealth Advisors LLC. now owns 3,953 shares of the coffee company’s stock worth $459,000 after purchasing an additional 142 shares during the last quarter. Canandaigua National Corp boosted its stake in Starbucks by 7.0% in the fourth quarter. Canandaigua National Corp now owns 17,608 shares of the coffee company’s stock worth $2,060,000 after buying an additional 1,147 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Starbucks by 154.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,138 shares of the coffee company’s stock valued at $484,000 after purchasing an additional 2,512 shares during the period. Finally, McAlister Sweet & Associates Inc. purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $319,000. 69.21% of the stock is currently owned by institutional investors and hedge funds.

In other Starbucks news, CEO Howard D. Schultz purchased 137,500 shares of the stock in a transaction on Tuesday, May 10th. The shares were bought at an average price of $72.67 per share, for a total transaction of $9,992,125.00. Following the completion of the transaction, the chief executive officer now owns 19,534,460 shares of the company’s stock, valued at approximately $1,419,569,208.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Howard D. Schultz bought 72,500 shares of the firm’s stock in a transaction dated Thursday, May 12th. The stock was purchased at an average price of $68.85 per share, for a total transaction of $4,991,625.00. Following the transaction, the chief executive officer now owns 19,606,960 shares of the company’s stock, valued at $1,349,939,196. The disclosure for this purchase can be found here. 0.27% of the stock is owned by company insiders.

Shares of NASDAQ:SBUX opened at $77.93 on Tuesday. The business’s 50-day moving average is $75.21 and its 200 day moving average is $87.44. Starbucks Co. has a 1 year low of $68.39 and a 1 year high of $126.32. The firm has a market capitalization of $89.38 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.33 and a beta of 0.93.

Starbucks (NASDAQ:SBUXGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The coffee company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.60 billion. Starbucks had a net margin of 14.07% and a negative return on equity of 53.43%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share. On average, equities analysts predict that Starbucks Co. will post 2.89 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 12th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.52%. The ex-dividend date is Thursday, August 11th. Starbucks’s dividend payout ratio (DPR) is 52.55%.

SBUX has been the subject of a number of research analyst reports. UBS Group dropped their price target on Starbucks from $105.00 to $86.00 and set a “neutral” rating for the company in a research note on Monday, April 25th. Robert W. Baird decreased their price objective on Starbucks from $95.00 to $85.00 in a report on Monday, April 25th. Guggenheim decreased their price objective on Starbucks from $95.00 to $87.00 in a report on Wednesday, April 13th. BMO Capital Markets reduced their price target on Starbucks from $115.00 to $105.00 in a report on Wednesday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Starbucks from $116.00 to $103.00 in a report on Monday, May 9th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $102.72.

Starbucks Company Profile (Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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