180 Wealth Advisors LLC cut its position in Starbucks Co. (NASDAQ:SBUX – Free Report) by 3.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,405 shares of the coffee company’s stock after selling 1,693 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Starbucks were worth $3,961,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the second quarter valued at approximately $25,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Starbucks during the 2nd quarter worth $41,000. DT Investment Partners LLC increased its position in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the period. FSA Wealth Management LLC bought a new stake in Starbucks during the third quarter worth about $49,000. Finally, Friedenthal Financial bought a new stake in Starbucks during the third quarter worth about $50,000. Institutional investors own 72.29% of the company’s stock.
Starbucks Trading Up 1.4 %
NASDAQ SBUX opened at $93.51 on Tuesday. The firm has a market capitalization of $106.02 billion, a P/E ratio of 28.25, a PEG ratio of 2.86 and a beta of 0.99. The business has a fifty day simple moving average of $96.06 and a 200 day simple moving average of $91.24. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32.
Starbucks Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors 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 2.61%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is 73.72%.
Analysts Set New Price Targets
Several brokerages have recently commented on SBUX. Royal Bank of Canada began coverage on shares of Starbucks in a research report on Friday, November 15th. They issued an “outperform” rating and a $115.00 target price for the company. Wedbush lowered their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Morgan Stanley raised their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Finally, Bank of America decreased their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.77.
View Our Latest Report on Starbucks
Insider Buying and Selling
In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.98% of the stock is currently owned by corporate insiders.
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.
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