Kingswood Wealth Advisors LLC Sells 3,528 Shares of Starbucks Co. (NASDAQ:SBUX)

Kingswood Wealth Advisors LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 19.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,855 shares of the coffee company’s stock after selling 3,528 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Starbucks were worth $1,356,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Magnolia Capital Advisors LLC bought a new position in Starbucks in the second quarter valued at about $1,383,000. Silver Lake Advisory LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at approximately $232,000. Sunbelt Securities Inc. grew its holdings in shares of Starbucks by 105.8% during the 2nd quarter. Sunbelt Securities Inc. now owns 26,054 shares of the coffee company’s stock valued at $2,028,000 after purchasing an additional 13,393 shares during the last quarter. Invst LLC increased its position in Starbucks by 5.7% during the 2nd quarter. Invst LLC now owns 20,372 shares of the coffee company’s stock worth $1,571,000 after purchasing an additional 1,092 shares in the last quarter. Finally, Quarry LP lifted its stake in Starbucks by 127.7% in the 2nd quarter. Quarry LP now owns 3,145 shares of the coffee company’s stock valued at $245,000 after purchasing an additional 1,764 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Up 1.2 %

Shares of NASDAQ:SBUX opened at $100.02 on Tuesday. The stock’s 50 day moving average is $95.66 and its 200-day moving average is $92.53. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32. The firm has a market capitalization of $113.40 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released 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 firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the firm earned $1.06 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Co. will post 3.08 earnings per share for the current fiscal year.

Starbucks Announces Dividend

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

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of 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 represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SBUX. BTIG Research upped their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Morgan Stanley increased their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price target on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. UBS Group raised their price objective on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Citigroup boosted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $104.08.

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.