Everpar Advisors LLC Sells 1,165 Shares of Starbucks Co. (NASDAQ:SBUX)

Everpar Advisors LLC lessened its position in Starbucks Co. (NASDAQ:SBUX) by 23.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,849 shares of the coffee company’s stock after selling 1,165 shares during the period. Everpar Advisors LLC’s holdings in Starbucks were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dakota Wealth Management increased its stake in shares of Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after purchasing an additional 300 shares during the period. Weil Company Inc. increased its position in Starbucks by 31.2% in the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after buying an additional 8,222 shares during the period. Maia Wealth LLC lifted its holdings in shares of Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after buying an additional 7,596 shares during the last quarter. Aljian Capital Management LLC boosted its position in shares of Starbucks by 48.5% in the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after acquiring an additional 9,936 shares during the period. Finally, Investment Management Corp of Ontario grew its stake in shares of Starbucks by 48.6% in the third quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after acquiring an additional 12,300 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SBUX. Wedbush cut their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Bank of America lowered their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Royal Bank of Canada assumed coverage on Starbucks in a research report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price objective for the company. Finally, Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. 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’s stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

Starbucks Stock Up 1.5 %

Shares of NASDAQ SBUX opened at $94.43 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The firm’s 50-day simple moving average is $95.92 and its 200 day simple moving average is $91.35. The company has a market cap of $107.06 billion, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 2.73 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its 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 company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 earnings per share. On average, equities analysts expect that Starbucks Co. will post 3.1 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.58%. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated 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 in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is currently owned by corporate 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.