International Assets Investment Management LLC Has $682,000 Stake in Starbucks Co. (NASDAQ:SBUX)

International Assets Investment Management LLC lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 99.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,400 shares of the coffee company’s stock after selling 744,955 shares during the period. International Assets Investment Management LLC’s holdings in Starbucks were worth $682,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks during the 2nd quarter worth about $25,000. Fairfield Financial Advisors LTD acquired a new stake in Starbucks during the second quarter worth approximately $41,000. DT Investment Partners LLC increased its holdings in 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 purchasing an additional 121 shares in the last quarter. FSA Wealth Management LLC acquired a new position in Starbucks in the third quarter valued at approximately $49,000. Finally, Friedenthal Financial bought a new position in shares of Starbucks during the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX stock opened at $92.60 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The firm’s 50-day simple moving average is $96.26 and its two-hundred day simple moving average is $90.88. The firm has a market cap of $104.99 billion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 2.86 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the business earned $1.06 earnings per share. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts forecast that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Announces Dividend

The company 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 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada assumed coverage on shares of Starbucks in a research report on Friday, November 15th. They set an “outperform” rating and a $115.00 price objective on the stock. Wedbush decreased their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Bank of America decreased their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.77.

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.