Starbucks Co. (NASDAQ:SBUX) Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 9.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,085 shares of the coffee company’s stock after selling 3,401 shares during the quarter. Financial Advocates Investment Management’s holdings in Starbucks were worth $3,019,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Financial Life Planners purchased 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 during the period. FSA Wealth Management LLC acquired a new stake in shares of Starbucks in the third quarter valued at $49,000. Friedenthal Financial purchased a new position in Starbucks in the third quarter valued at $50,000. Finally, Hager Investment Management Services LLC acquired a new position in Starbucks during the 4th quarter worth $56,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction dated Thursday, November 21st. The shares were 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 directly owns 80,124 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SBUX shares. UBS Group increased their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Wedbush raised their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Finally, BTIG Research raised their price target on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Stock Performance

SBUX stock opened at $112.25 on Thursday. The stock has a market capitalization of $127.50 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00. The company has a fifty day moving average of $96.51 and a 200-day moving average of $94.07. Starbucks Co. has a one year low of $71.55 and a one year high of $112.42.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 company earned $0.90 earnings per share. Equities analysts forecast that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed 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. This represents a $2.44 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is presently 78.71%.

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.