Mission Creek Capital Partners Inc. Sells 894 Shares of Starbucks Co. (NASDAQ:SBUX)

Mission Creek Capital Partners Inc. decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 13.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,632 shares of the coffee company’s stock after selling 894 shares during the period. Mission Creek Capital Partners Inc.’s holdings in Starbucks were worth $549,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the second quarter worth approximately $25,000. New Millennium Group LLC bought a new position in Starbucks in the second quarter worth approximately $26,000. Stephens Consulting LLC boosted its holdings in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Starbucks in the second quarter worth approximately $27,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Starbucks in the second quarter worth approximately $31,000. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SBUX shares. BMO Capital Markets increased their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Stifel Nicolaus increased their price objective on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Morgan Stanley increased their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Redburn Atlantic reissued a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Finally, Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.77.

Starbucks Stock Performance

NASDAQ:SBUX opened at $100.70 on Thursday. The firm has a market capitalization of $114.17 billion, a price-to-earnings ratio of 30.42, a P/E/G ratio of 2.97 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32. The stock has a fifty day moving average of $97.99 and a 200 day moving average of $88.54.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.06 earnings per share. Equities analysts forecast that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.61 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.42%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the transaction, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

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.