Icon Wealth Advisors LLC Has $58,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Icon Wealth Advisors LLC lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 97.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 598 shares of the coffee company’s stock after selling 22,255 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Starbucks were worth $58,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the 2nd quarter valued at $25,000. New Millennium Group LLC bought a new stake in shares of Starbucks during the 2nd quarter worth $26,000. Stephens Consulting LLC raised its stake in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the period. Hobbs Group Advisors LLC bought a new stake in Starbucks in the 2nd quarter valued at about $27,000. Finally, Olistico Wealth LLC bought a new stake in Starbucks in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SBUX shares. Citigroup lifted their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Bank of America lowered their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Morgan Stanley upped their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their target price for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Three equities research 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $102.81.

Starbucks Stock Up 2.4 %

NASDAQ SBUX opened at $102.50 on Monday. The stock’s 50-day moving average price is $97.11 and its 200-day moving average price is $87.19. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.60. The company has a market capitalization of $116.21 billion, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 2.90 and a beta of 0.97.

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

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.38%. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction on 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 directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

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.