Diversify Advisory Services LLC Has $641,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Diversify Advisory Services LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,954 shares of the coffee company’s stock after selling 1,206 shares during the quarter. Diversify Advisory Services LLC’s holdings in Starbucks were worth $641,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Riverview Trust Co lifted its stake in Starbucks by 3.4% in the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after acquiring an additional 105 shares in the last quarter. Essex Savings Bank increased its holdings in shares of Starbucks by 1.6% in the 3rd quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after purchasing an additional 112 shares during the period. Virtue Capital Management LLC boosted its holdings in shares of Starbucks by 1.7% during the third quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock worth $674,000 after purchasing an additional 115 shares during the period. DT Investment Partners LLC grew its position in Starbucks by 39.4% during the third 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 in the last quarter. Finally, Childress Capital Advisors LLC increased its stake in Starbucks by 4.8% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after buying an additional 126 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX opened at $97.98 on Wednesday. The company has a market capitalization of $111.09 billion, a P/E ratio of 29.60, a P/E/G ratio of 2.82 and a beta of 0.99. The firm’s fifty day moving average price is $95.74 and its two-hundred day moving average price is $91.84. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion for 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 firm’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.06 EPS. On average, equities research analysts expect that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.49%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research reports. Bank of America lowered their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. UBS Group lifted their target price on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Citigroup increased their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $103.92.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s 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 sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company 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.