Encompass Wealth Advisors LLC Sells 3,612 Shares of Starbucks Co. (NASDAQ:SBUX)

Encompass Wealth Advisors LLC lessened its position in Starbucks Co. (NASDAQ:SBUX) by 54.6% in the 4th quarter, Holdings Channel reports. The firm owned 3,009 shares of the coffee company’s stock after selling 3,612 shares during the period. Encompass Wealth Advisors LLC’s holdings in Starbucks were worth $275,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Financial Life Planners bought a new stake in Starbucks during the 4th quarter worth approximately $25,000. DT Investment Partners LLC increased 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 in the last quarter. FSA Wealth Management LLC acquired a new stake in shares of Starbucks during the third quarter worth $49,000. Friedenthal Financial bought a new stake in Starbucks in the 3rd quarter valued at $50,000. Finally, Hager Investment Management Services LLC bought a new position in Starbucks during the 4th quarter worth about $56,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX opened at $111.70 on Friday. The business has a fifty day simple moving average of $96.73 and a 200 day simple moving average of $94.20. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $112.42. The company has a market capitalization of $126.88 billion, a PE ratio of 36.03, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the firm earned $0.90 EPS. Equities analysts anticipate that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 annualized dividend and a dividend yield of 2.18%. Starbucks’s dividend payout ratio is presently 78.71%.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley boosted their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. UBS Group upped their price target on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. BTIG Research lifted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, Citigroup boosted their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

Starbucks Company 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.