Starbucks Co. (NASDAQ:SBUX) Shares Sold by Avitas Wealth Management LLC

Avitas Wealth Management LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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.

A number of other large investors also recently bought and sold shares of the company. State Street Corp lifted its stake in Starbucks by 1.0% during the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after purchasing an additional 437,218 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Starbucks by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after buying an additional 333,004 shares during the last quarter. FMR LLC lifted its position in shares of Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after buying an additional 7,015,375 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after buying an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Starbucks by 2.9% during the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after acquiring an additional 327,734 shares during the period. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.09% of the company’s stock.

Starbucks Stock Up 2.3 %

NASDAQ:SBUX opened at $110.60 on Wednesday. The business’s 50-day moving average price is $96.31 and its 200 day moving average price is $93.85. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $111.07. The firm 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.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping 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 previous year, the company posted $0.90 EPS. Sell-side analysts expect that Starbucks Co. will post 3 EPS for the current year.

Starbucks Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have commented on the company. Barclays lifted their target price on Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Wedbush upped their price objective on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Citigroup upped 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. Finally, Bank of America cut their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.