Kavar Capital Partners Group LLC Sells 495 Shares of Starbucks Co. (NASDAQ:SBUX)

Kavar Capital Partners Group LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,143 shares of the coffee company’s stock after selling 495 shares during the quarter. Kavar Capital Partners Group LLC’s holdings in Starbucks were worth $5,032,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. FMR LLC raised its position in shares of Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after buying an additional 7,015,375 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Starbucks by 1,491.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after buying an additional 2,632,087 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in Starbucks by 1,078.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after buying an additional 2,329,431 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in Starbucks during the 3rd quarter worth $126,574,000. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

Shares of SBUX stock opened at $98.81 on Monday. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The business’s 50 day simple moving average is $95.66 and its 200 day simple moving average is $92.53. The stock has a market capitalization of $112.03 billion, a PE ratio of 29.85, a PEG ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 quarter in the prior year, the firm earned $1.06 EPS. The business’s revenue was down 3.2% on a year-over-year basis. As a group, research analysts expect that Starbucks Co. will post 3.08 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.47%. Starbucks’s payout ratio is 73.72%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SBUX shares. Wedbush reduced their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Barclays reduced their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic restated a “sell” rating and issued a $77.00 target price (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Wells Fargo & Company increased their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, BTIG Research lifted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.98% of the company’s stock.

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.