IVC Wealth Advisors LLC Lowers Position in Starbucks Co. (NASDAQ:SBUX)

IVC Wealth Advisors LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,175 shares of the coffee company’s stock after selling 817 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Starbucks were worth $381,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Public Sector Pension Investment Board raised its position in Starbucks by 73.1% in the second quarter. Public Sector Pension Investment Board now owns 43,633 shares of the coffee company’s stock worth $3,397,000 after acquiring an additional 18,420 shares during the period. Fred Alger Management LLC lifted its holdings in Starbucks by 3.7% during the second quarter. Fred Alger Management LLC now owns 42,650 shares of the coffee company’s stock valued at $3,320,000 after purchasing an additional 1,503 shares during the last quarter. Elgethun Capital Management increased its stake in shares of Starbucks by 4.2% in the second quarter. Elgethun Capital Management now owns 44,863 shares of the coffee company’s stock worth $3,493,000 after purchasing an additional 1,789 shares in the last quarter. Drucker Wealth 3.0 LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at approximately $3,479,000. Finally, DoubleLine ETF Adviser LP bought a new position in Starbucks in the 2nd quarter worth approximately $2,361,000. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was 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 approximately $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 SEC, which is accessible through the SEC website. 1.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price target (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Citigroup increased their target price 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. Barclays decreased their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. BTIG Research raised their price target on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada began coverage on shares of Starbucks in a report on Friday, November 15th. They set an “outperform” rating and a $115.00 price objective for the company. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

Starbucks Stock Performance

NASDAQ:SBUX opened at $97.99 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The firm has a market cap of $111.10 billion, a P/E ratio of 29.60, a P/E/G ratio of 2.91 and a beta of 0.99. The firm has a 50-day simple moving average of $95.68 and a two-hundred day simple moving average of $92.04.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Co. will post 3.08 EPS for the current year.

Starbucks Announces Dividend

The firm 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 is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.49%. Starbucks’s dividend payout ratio (DPR) is 73.72%.

About Starbucks

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.