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% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the second quarter valued at $25,000. DT Investment Partners LLC raised its stake in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares during the period. FSA Wealth Management LLC bought a new stake in shares of Starbucks during the 3rd quarter valued at $49,000. Friedenthal Financial bought a new stake in shares of Starbucks during the 3rd quarter valued at $50,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Starbucks during the 3rd quarter valued at $71,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

SBUX opened at $98.81 on Friday. The business has a 50 day simple moving average of $95.65 and a two-hundred day simple moving average of $92.08. The firm has a market capitalization 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 one year low of $71.55 and a one year high of $103.32.

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, hitting the consensus estimate of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.06 EPS. As a group, sell-side analysts expect that Starbucks Co. will post 3.08 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.47%. Starbucks’s payout ratio is currently 73.72%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup boosted their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Bank of America reduced their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Royal Bank of Canada restated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research report on Friday. UBS Group boosted their target price on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.98% of the stock is currently owned by company insiders.

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.