IVC Wealth Advisors LLC Sells 1,698 Shares of Starbucks Co. (NASDAQ:SBUX)

IVC Wealth Advisors LLC decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 25.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,992 shares of the coffee company’s stock after selling 1,698 shares during the period. IVC Wealth Advisors LLC’s holdings in Starbucks were worth $487,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after acquiring an additional 470,498 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Starbucks by 2.6% in the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after purchasing an additional 221,718 shares in the last quarter. Flossbach Von Storch AG increased its stake in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Starbucks by 5.2% in the first quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock valued at $495,145,000 after purchasing an additional 266,570 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new stake in shares of Starbucks during the 1st quarter valued at approximately $415,167,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Up 0.2 %

Starbucks stock opened at $97.31 on Monday. The firm has a fifty day simple moving average of $95.48 and a two-hundred day simple moving average of $85.03. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a market capitalization of $110.27 billion, a PE ratio of 27.26, a P/E/G ratio of 2.59 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the company posted $1.00 EPS. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts expect that Starbucks Co. will post 3.34 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.61 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.51%. Starbucks’s dividend payout ratio (DPR) is currently 63.87%.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, August 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 sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Citigroup reduced their price objective on shares of Starbucks from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Barclays boosted their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. TD Cowen restated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. Finally, BMO Capital Markets increased their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $102.48.

About Starbucks

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.