Avior Wealth Management LLC Sells 902 Shares of Starbucks Co. (NASDAQ:SBUX)

Avior Wealth Management LLC cut its position in Starbucks Co. (NASDAQ:SBUX) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,473 shares of the coffee company’s stock after selling 902 shares during the quarter. Avior Wealth Management LLC’s holdings in Starbucks were worth $1,138,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks during the second quarter worth about $25,000. DT Investment Partners LLC raised its position in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares during the last quarter. FSA Wealth Management LLC bought a new position in shares of Starbucks during the third quarter worth about $49,000. Friedenthal Financial bought a new position in shares of Starbucks during the third quarter worth about $50,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Starbucks during the third quarter worth about $71,000. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. BTIG Research lifted their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Citigroup lifted their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wedbush lowered their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Stifel Nicolaus lifted their target price on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $103.92.

Starbucks Stock Up 0.8 %

Shares of NASDAQ:SBUX opened at $98.81 on Friday. The stock has a market cap of $112.03 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.91 and a beta of 0.99. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The business’s 50 day moving average is $95.65 and its 200 day moving average is $92.08.

Starbucks (NASDAQ:SBUX) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 earnings per share. As a group, equities research analysts expect that Starbucks Co. will post 3.08 earnings per share for the current year.

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 issued a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.47%. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks 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 sale, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.