Wealthspire Advisors LLC Lowers Holdings in Starbucks Co. (NASDAQ:SBUX)

Wealthspire Advisors LLC reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,499 shares of the coffee company’s stock after selling 460 shares during the period. Wealthspire Advisors LLC’s holdings in Starbucks were worth $3,061,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. First National Trust Co grew its holdings in Starbucks by 2.2% during the 4th quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock worth $483,000 after acquiring an additional 106 shares in the last quarter. Quent Capital LLC lifted its holdings in Starbucks by 2.8% during the 4th quarter. Quent Capital LLC now owns 4,004 shares of the coffee company’s stock worth $384,000 after buying an additional 108 shares during the last quarter. Graybill Wealth Management LTD. increased its holdings in shares of Starbucks by 0.3% in the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock valued at $3,849,000 after acquiring an additional 109 shares during the last quarter. Omega Financial Group LLC increased its stake in Starbucks by 3.2% in the fourth quarter. Omega Financial Group LLC now owns 3,613 shares of the coffee company’s stock valued at $347,000 after purchasing an additional 113 shares during the last quarter. Finally, Glass Jacobson Investment Advisors llc raised its holdings in Starbucks by 10.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,246 shares of the coffee company’s stock worth $120,000 after purchasing an additional 113 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The disclosure for this sale can be found here. Insiders have sold 10,750 shares of company stock worth $878,893 over the last 90 days. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX traded up $1.53 during mid-day trading on Friday, hitting $74.83. The company’s stock had a trading volume of 10,559,272 shares, compared to its average volume of 9,733,452. The firm has a market capitalization of $84.76 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 1.60 and a beta of 0.94. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66. The stock’s fifty day simple moving average is $77.87 and its two-hundred day simple moving average is $86.59.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same period last year, the company posted $0.74 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities analysts forecast that Starbucks Co. will post 3.58 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is presently 62.81%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wedbush restated a “neutral” rating and issued a $81.00 price objective on shares of Starbucks in a research note on Friday, June 28th. The Goldman Sachs Group initiated coverage on shares of Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective on the stock. HSBC dropped their price objective on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Starbucks from a “buy” rating to a “hold” rating and lowered their target price for the company from $108.00 to $89.00 in a report on Wednesday, May 1st. Finally, TD Cowen reissued a “hold” rating and set a $85.00 price target on shares of Starbucks in a report on Thursday, June 13th. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.75.

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.