Inspirion Wealth Advisors LLC Lowers Stake in Starbucks Co. (NASDAQ:SBUX)

Inspirion Wealth Advisors LLC lowered its position in Starbucks Co. (NASDAQ:SBUX) by 4.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,001 shares of the coffee company’s stock after selling 299 shares during the period. Inspirion Wealth Advisors LLC’s holdings in Starbucks were worth $650,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SBUX. State Street Corp boosted its stake in shares of Starbucks by 1.0% in the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after acquiring an additional 437,218 shares during the period. Geode Capital Management LLC lifted its holdings in Starbucks by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after purchasing an additional 333,004 shares in the last quarter. FMR LLC boosted its stake in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares during the period. Wellington Management Group LLP grew its holdings in Starbucks by 100.6% during 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 in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Starbucks by 2.9% during the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after buying an additional 327,734 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 1.5 %

Shares of NASDAQ:SBUX opened at $94.43 on Friday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32. The business’s 50 day moving average is $95.92 and its 200 day moving average is $91.35. The stock has a market cap of $107.06 billion, a P/E ratio of 28.53, a price-to-earnings-growth ratio of 2.73 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued 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 net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the business earned $1.06 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction on Friday, November 15th. The stock was 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 in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus lifted their target price on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. UBS Group boosted their price target on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. JPMorgan Chase & Co. boosted their target price on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada started coverage on Starbucks in a research report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price target for the company. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

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.