Avior Wealth Management LLC Decreases Stock Position in Starbucks Co. (NASDAQ:SBUX)

Avior Wealth Management LLC lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 6.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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.

A number of other large investors have also added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks in the 2nd quarter worth $25,000. New Millennium Group LLC purchased a new stake in Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC boosted its holdings in shares of Starbucks by 498.2% during 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 bought a new position in shares of Starbucks during the 2nd quarter valued at about $27,000. Finally, Olistico Wealth LLC bought a new position in shares of Starbucks during the 2nd quarter valued at about $31,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SBUX. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. JPMorgan Chase & Co. increased their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and increased their price target for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus 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. The company has a market capitalization of $111.35 billion, a P/E ratio of 29.69, a PEG ratio of 2.85 and a beta of 0.97. The firm has a fifty day simple moving average of $97.01 and a 200-day simple moving average of $86.70. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $104.68.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 earnings per share. Equities analysts forecast that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

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

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following 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 ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate 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.