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

Avior Wealth Management LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 6.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,375 shares of the coffee company’s stock after selling 881 shares during the period. Avior Wealth Management LLC’s holdings in Starbucks were worth $1,304,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks during the 2nd quarter worth approximately $25,000. New Millennium Group LLC acquired a new stake in Starbucks during the 2nd quarter worth approximately $26,000. Stephens Consulting LLC increased its position in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Starbucks in the 2nd quarter valued at approximately $27,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Starbucks in the 2nd quarter valued at approximately $31,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on SBUX. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and increased their target price for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Barclays dropped their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their target price for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Royal Bank of Canada started coverage on shares of Starbucks in a research report on Friday, November 15th. They issued an “outperform” rating and a $115.00 target price on the stock. Finally, Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.81.

Starbucks Trading Down 0.1 %

NASDAQ:SBUX opened at $98.26 on Thursday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $104.68. The firm has a 50-day moving average price of $97.01 and a two-hundred day moving average price of $86.70. The company has a market capitalization of $111.35 billion, a P/E ratio of 29.69, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.06 earnings per share. On average, equities research analysts predict that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.48%. Starbucks’s payout ratio is presently 73.72%.

Insider Transactions at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the company’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 sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 1.06 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

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.