IVC Wealth Advisors LLC Sells 817 Shares of Starbucks Co. (NASDAQ:SBUX)

IVC Wealth Advisors LLC cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 16.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,175 shares of the coffee company’s stock after selling 817 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Starbucks were worth $381,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent research reports. TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. JPMorgan Chase & Co. lifted their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Wedbush reduced their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. BTIG Research raised their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, UBS Group upped their target price on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Three equities research 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $103.92.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction that occurred 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 $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.98% of the stock is currently owned by company insiders.

Starbucks Trading Up 0.3 %

Shares of SBUX opened at $97.99 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The company has a market capitalization of $111.10 billion, a PE ratio of 29.60, a PEG ratio of 2.91 and a beta of 0.99. The stock’s 50-day moving average price is $95.68 and its two-hundred day moving average price is $92.04.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.06 EPS. Equities research analysts predict that Starbucks Co. will post 3.08 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.49%. Starbucks’s payout ratio is presently 73.72%.

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.