Avidian Wealth Enterprises LLC Purchases 122 Shares of Starbucks Co. (NASDAQ:SBUX)

Avidian Wealth Enterprises LLC boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,259 shares of the coffee company’s stock after acquiring an additional 122 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Starbucks were worth $1,027,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in shares of Starbucks during the 4th quarter worth about $25,000. Collier Financial acquired a new stake in Starbucks during the fourth quarter worth approximately $27,000. DT Investment Partners LLC lifted its position in Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in Starbucks during the third quarter worth approximately $49,000. Finally, Friedenthal Financial acquired a new stake in Starbucks during the third quarter worth approximately $50,000. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

Shares of SBUX opened at $113.04 on Thursday. The firm has a 50 day simple moving average of $97.51 and a two-hundred day simple moving average of $95.37. The company has a market cap of $128.40 billion, a P/E ratio of 36.46, a P/E/G ratio of 3.52 and a beta of 1.00. Starbucks Co. has a one year low of $71.55 and a one year high of $113.19.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 previous year, the firm earned $0.90 EPS. On average, analysts expect that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.16%. Starbucks’s payout ratio is presently 78.71%.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SBUX. BMO Capital Markets raised their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Bank of America cut their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Barclays raised their price objective on shares of Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Starbucks in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

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.