Inspirion Wealth Advisors LLC Sells 299 Shares of Starbucks Co. (NASDAQ:SBUX)

Inspirion Wealth Advisors LLC cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,001 shares of the coffee company’s stock after selling 299 shares during the period. Inspirion Wealth Advisors LLC’s holdings in Starbucks were worth $650,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks during the 2nd quarter valued at about $25,000. DT Investment Partners LLC increased its holdings in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares during the period. FSA Wealth Management LLC bought a new stake in Starbucks in the third quarter valued at approximately $49,000. Friedenthal Financial purchased a new stake in shares of Starbucks during the third quarter valued at approximately $50,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Starbucks in the third quarter worth $71,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Starbucks stock opened at $94.43 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The business’s fifty day moving average is $95.92 and its 200 day moving average is $91.35. The stock has a market capitalization of $107.06 billion, a PE 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 for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the business earned $1.06 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts expect that Starbucks Co. will post 3.1 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

Analyst Ratings Changes

SBUX has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective 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. TD Cowen reiterated a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. Morgan Stanley raised their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Finally, Wedbush dropped their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.92.

Insider Buying and Selling

In related 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 transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is currently owned by 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.