Financial Advocates Investment Management Reduces Holdings in Starbucks Co. (NASDAQ:SBUX)

Financial Advocates Investment Management decreased its position in Starbucks Co. (NASDAQ:SBUX) by 9.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Life Planners purchased a new position in shares of Starbucks during the 4th quarter worth $25,000. DT Investment Partners LLC increased its stake in Starbucks by 39.4% in 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 during the last quarter. FSA Wealth Management LLC purchased a new position in Starbucks during the third quarter worth about $49,000. Friedenthal Financial purchased a new stake in Starbucks in the 3rd quarter valued at about $50,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Starbucks during the 4th quarter valued at about $56,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Starbucks

In related 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 owns 80,124 shares in the company, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by company insiders.

Starbucks Trading Up 1.5 %

Shares of Starbucks stock opened at $112.25 on Thursday. The stock has a market capitalization of $127.50 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 3.40 and a beta of 1.00. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $112.42. The business’s 50 day simple moving average is $96.51 and its 200-day simple moving average is $94.07.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period last year, the firm earned $0.90 EPS. Sell-side analysts predict that Starbucks Co. will post 3 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.17%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is 78.71%.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. BMO Capital Markets upped their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. BTIG Research lifted their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Morgan Stanley upped their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, UBS Group lifted their price objective on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $105.33.

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.