Mountain Pacific Investment Advisers Inc. ID Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Mountain Pacific Investment Advisers Inc. ID purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,092 shares of the coffee company’s stock, valued at approximately $201,000.

Other institutional investors have also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. grew its stake in Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Atticus Wealth Management LLC grew its stake in Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Evolution Advisers Inc. acquired a new stake in Starbucks in the 4th quarter valued at $36,000. Financial Connections Group Inc. acquired a new stake in Starbucks in the 4th quarter valued at $38,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in Starbucks in the 4th quarter valued at $38,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SBUX. BMO Capital Markets lowered their target price on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 31st. JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 19th. TD Cowen reaffirmed a “hold” rating and set a $100.00 target price on shares of Starbucks in a research note on Thursday, April 11th. Jefferies Financial Group lowered their target price on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Finally, BTIG Research lowered their price target on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $106.55.

Insider Activity at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 7,250 shares of company stock valued at $651,738 over the last three months. 1.98% of the stock is owned by corporate insiders.

Starbucks Stock Up 0.5 %

NASDAQ:SBUX traded up $0.41 on Friday, reaching $88.25. 7,185,257 shares of the company’s stock were exchanged, compared to its average volume of 7,387,159. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48. The firm has a market capitalization of $99.92 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.48 and a beta of 0.97. The business has a fifty day moving average of $90.36 and a 200-day moving average of $94.27.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the firm posted $0.75 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts anticipate that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is presently 60.96%.

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.