Starbucks Co. (NASDAQ:SBUX) Stake Cut by Avitas Wealth Management LLC

Avitas Wealth Management LLC lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,815 shares of the coffee company’s stock after selling 160 shares during the quarter. Avitas Wealth Management LLC’s holdings in Starbucks were worth $2,082,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Financial Life Planners purchased a new position in Starbucks during the fourth quarter valued at approximately $25,000. DT Investment Partners LLC grew its holdings in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares in the last quarter. FSA Wealth Management LLC acquired a new position in shares of Starbucks in the third quarter worth $49,000. Friedenthal Financial purchased a new stake in shares of Starbucks during the third quarter worth $50,000. Finally, Capital Performance Advisors LLP acquired a new stake in Starbucks during the third quarter valued at $71,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX opened at $110.60 on Wednesday. The stock has a market cap of $125.63 billion, a P/E ratio of 35.68, a PEG ratio of 3.40 and a beta of 1.00. The company has a fifty day moving average price of $96.31 and a 200 day moving average price of $93.85. Starbucks Co. has a one year low of $71.55 and a one year high of $111.07.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the company earned $0.90 earnings per share. As a group, equities research analysts anticipate that Starbucks Co. will post 3 EPS for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is presently 78.71%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. TD Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price objective on shares of Starbucks in a report on Friday, January 24th. Wedbush lifted their target price on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Morgan Stanley increased their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Bank of America cut their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average price target of $105.33.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by corporate insiders.

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.