Encompass Wealth Advisors LLC Sells 3,612 Shares of Starbucks Co. (NASDAQ:SBUX)

Encompass Wealth Advisors LLC trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 54.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,009 shares of the coffee company’s stock after selling 3,612 shares during the period. Encompass Wealth Advisors LLC’s holdings in Starbucks were worth $275,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after buying an additional 7,598,146 shares during the last quarter. FMR LLC lifted its position in Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after acquiring an additional 7,015,375 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Starbucks by 1,491.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after acquiring an additional 2,632,087 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Starbucks by 1,078.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after purchasing an additional 2,329,431 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Starbucks in the third quarter worth about $126,574,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction on 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 approximately $6,503,747.36. The trade was a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Starbucks Trading Down 0.5 %

SBUX opened at $111.70 on Friday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $112.42. The stock has a market capitalization of $126.88 billion, a PE ratio of 36.03, a PEG ratio of 3.40 and a beta of 1.00. The firm has a 50-day moving average price of $96.73 and a two-hundred day moving average price of $94.20.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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 net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the previous year, the firm posted $0.90 earnings per share. On average, research analysts predict that Starbucks Co. will post 3 EPS for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is 78.71%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Morgan Stanley raised their price objective on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. BTIG Research upped their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. UBS Group raised their price target on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Wedbush upped their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.