Avaii Wealth Management LLC Buys Shares of 3,067 Starbucks Co. (NASDAQ:SBUX)

Avaii Wealth Management LLC purchased a new position in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,067 shares of the coffee company’s stock, valued at approximately $280,000.

A number of other hedge funds have also made changes to their positions in the stock. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks during the 2nd quarter valued at $25,000. DT Investment Partners LLC raised its holdings in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in Starbucks during the third quarter valued at $49,000. Friedenthal Financial purchased a new position in Starbucks in the third quarter valued at about $50,000. Finally, Capital Performance Advisors LLP acquired a new position in Starbucks in the 3rd quarter worth about $71,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBUX has been the subject of several recent research reports. Stifel Nicolaus boosted their price target on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Redburn Atlantic reissued a “sell” rating and issued a $77.00 target price (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. BTIG Research raised their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Wedbush decreased their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Bank of America lowered their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

Starbucks Price Performance

Shares of SBUX stock opened at $98.81 on Friday. The stock has a market cap of $112.03 billion, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. The stock has a fifty day moving average price of $95.66 and a 200 day moving average price of $92.25. Starbucks Co. has a one year low of $71.55 and a one year 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. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the business earned $1.06 EPS. The firm’s revenue was down 3.2% on a year-over-year basis. Equities research analysts anticipate that Starbucks Co. will post 3.08 EPS for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.47%. Starbucks’s payout ratio is presently 73.72%.

Insider Buying and Selling

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 transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.98% of the stock is owned by corporate insiders.

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.