Starbucks Co. (NASDAQ:SBUX) Stock Position Cut by Mission Wealth Management LP

Mission Wealth Management LP decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.8% during the 4th quarter, Holdings Channel reports. 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Financial Life Planners acquired a new position in shares of Starbucks during the fourth quarter valued at approximately $25,000. Collier Financial bought a new position in Starbucks during the 4th quarter valued at $27,000. Marshall Investment Management LLC acquired a new position in shares of Starbucks during the 4th quarter valued at $30,000. Noble Wealth Management PBC bought a new stake in shares of Starbucks in the 4th quarter worth $30,000. Finally, Centricity Wealth Management LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at $36,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Down 0.3 %

Shares of NASDAQ:SBUX opened at $115.41 on Tuesday. The company has a market cap 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 business has a 50 day moving average price of $102.67 and a 200 day moving average price of $98.68. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last posted 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 negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the previous year, the business earned $0.90 earnings per share. Analysts anticipate that Starbucks Co. will post 2.99 EPS for the current year.

Analysts Set New Price Targets

SBUX has been the topic of a number of research analyst reports. Barclays lifted their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Wedbush lifted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. TD Cowen reiterated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. Redburn Atlantic restated a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Finally, Wells Fargo & Company upped their price target on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Starbucks 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.