Avestar Capital LLC Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

Avestar Capital LLC raised its position in Starbucks Co. (NASDAQ:SBUX) by 62.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,387 shares of the coffee company’s stock after purchasing an additional 4,741 shares during the quarter. Avestar Capital LLC’s holdings in Starbucks were worth $1,130,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Jmac Enterprises LLC raised its holdings in shares of Starbucks by 1.0% in the 4th quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock valued at $912,000 after buying an additional 103 shares during the period. Aspire Capital Advisors LLC increased its stake in Starbucks by 0.5% during the fourth quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock worth $2,118,000 after purchasing an additional 104 shares during the period. Riverview Trust Co lifted its position in shares of Starbucks by 3.4% during the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after purchasing an additional 105 shares in the last quarter. Optas LLC lifted its position in shares of Starbucks by 0.6% during the fourth quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock worth $1,525,000 after purchasing an additional 105 shares in the last quarter. Finally, Boomfish Wealth Group LLC boosted its stake in shares of Starbucks by 0.7% in the fourth quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock valued at $1,399,000 after purchasing an additional 108 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

Starbucks Trading Up 1.8 %

Shares of SBUX opened at $113.04 on Thursday. The company’s 50 day simple moving average is $97.76 and its 200-day simple moving average is $95.49. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $113.19. The firm has a market cap of $128.40 billion, a PE ratio of 36.46, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the prior year, the company posted $0.90 EPS. As a group, equities research analysts forecast that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.16%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is presently 78.71%.

Analyst Ratings Changes

SBUX has been the topic of a number of research reports. Wedbush increased their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. UBS Group boosted their target price on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Wells Fargo & Company increased their price target on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $105.33.

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.