Davies Financial Advisors Inc. Has $619,000 Holdings in Starbucks Co. (NASDAQ:SBUX)

Davies Financial Advisors Inc. cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 21.3% in the fourth quarter, HoldingsChannel reports. The firm owned 6,784 shares of the coffee company’s stock after selling 1,837 shares during the period. Davies Financial Advisors Inc.’s holdings in Starbucks were worth $619,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Bridges Investment Management Inc. raised its position in shares of Starbucks by 21.0% in the second quarter. Bridges Investment Management Inc. now owns 4,312 shares of the coffee company’s stock valued at $336,000 after purchasing an additional 747 shares during the period. AE Wealth Management LLC grew its stake in Starbucks by 42.1% in the 2nd quarter. AE Wealth Management LLC now owns 23,099 shares of the coffee company’s stock valued at $1,798,000 after buying an additional 6,841 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Starbucks by 0.9% in the 2nd quarter. Pacer Advisors Inc. now owns 134,130 shares of the coffee company’s stock worth $10,442,000 after acquiring an additional 1,182 shares during the period. Holderness Investments Co. lifted its position in Starbucks by 8.1% during the 2nd quarter. Holderness Investments Co. now owns 3,748 shares of the coffee company’s stock worth $292,000 after acquiring an additional 280 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its holdings in Starbucks by 8,935.9% during the second quarter. Frank Rimerman Advisors LLC now owns 14,096 shares of the coffee company’s stock valued at $1,097,000 after acquiring an additional 13,940 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s 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 in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $95.13 on Tuesday. The company’s fifty day moving average is $95.84 and its 200-day moving average is $91.71. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The company has a market capitalization of $107.86 billion, a PE ratio of 28.74, a P/E/G ratio of 2.82 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The firm 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%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 earnings per share. On average, analysts forecast that Starbucks Co. will post 3.1 EPS for the current year.

Starbucks Announces Dividend

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 issued 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 yield of 2.56%. Starbucks’s dividend payout ratio is 73.72%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wells Fargo & Company lifted their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Redburn Atlantic restated a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. BTIG Research upped their target price 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. Finally, Stifel Nicolaus raised 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 assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

Starbucks 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.