Beacon Investment Advisory Services Inc. Has $6.88 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Beacon Investment Advisory Services Inc. lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 75,429 shares of the coffee company’s stock after selling 8,518 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Starbucks were worth $6,883,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Olistico Wealth LLC boosted its holdings in shares of Starbucks by 193.3% in the fourth quarter. Olistico Wealth LLC now owns 789 shares of the coffee company’s stock valued at $72,000 after buying an additional 520 shares during the period. Wesbanco Bank Inc. lifted its position in Starbucks by 1.6% in the 4th quarter. Wesbanco Bank Inc. now owns 133,461 shares of the coffee company’s stock valued at $12,178,000 after acquiring an additional 2,111 shares in the last quarter. SG Americas Securities LLC boosted its stake in Starbucks by 223.2% in the 4th quarter. SG Americas Securities LLC now owns 204,711 shares of the coffee company’s stock worth $18,680,000 after purchasing an additional 370,808 shares during the period. Phillips Wealth Planners LLC lifted its holdings in shares of Starbucks by 50.9% in the fourth quarter. Phillips Wealth Planners LLC now owns 5,156 shares of the coffee company’s stock valued at $476,000 after purchasing an additional 1,739 shares in the last quarter. Finally, Evolution Wealth Advisors LLC acquired a new position in shares of Starbucks during the fourth quarter worth about $242,000. 72.29% of the stock is currently owned by institutional investors.

Insider Transactions at Starbucks

In other Starbucks 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 transaction, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.98% of the stock is currently owned by insiders.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $97.73 on Thursday. The company has a market capitalization of $110.81 billion, a P/E ratio of 29.53, a P/E/G ratio of 2.92 and a beta of 0.99. The business’s 50 day simple moving average is $95.68 and its 200 day simple moving average is $92.04. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the business earned $1.06 earnings per share. Starbucks’s revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that Starbucks Co. will post 3.09 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Analyst Ratings Changes

Several research firms have commented on SBUX. BTIG Research boosted their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Citigroup upped their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada assumed coverage on Starbucks in a research report on Friday, November 15th. They set an “outperform” rating and a $115.00 price target on the stock. TD Cowen reissued a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Finally, Stifel Nicolaus upped their price target on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.92.

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.