Starbucks Co. (NASDAQ:SBUX) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 21.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,293 shares of the coffee company’s stock after selling 2,248 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Starbucks were worth $758,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Sound Income Strategies LLC grew its position in Starbucks by 282.5% during the first quarter. Sound Income Strategies LLC now owns 9,520 shares of the coffee company’s stock valued at $870,000 after buying an additional 7,031 shares during the period. Thompson Investment Management Inc. increased its position in shares of Starbucks by 25.3% in the first quarter. Thompson Investment Management Inc. now owns 48,860 shares of the coffee company’s stock valued at $4,465,000 after buying an additional 9,878 shares in the last quarter. Columbus Macro LLC raised its stake in shares of Starbucks by 17.2% during the 1st quarter. Columbus Macro LLC now owns 6,437 shares of the coffee company’s stock worth $588,000 after buying an additional 947 shares during the period. Beech Hill Advisors Inc. lifted its position in shares of Starbucks by 119.8% during the 1st quarter. Beech Hill Advisors Inc. now owns 43,703 shares of the coffee company’s stock valued at $3,994,000 after buying an additional 23,820 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC grew its stake in Starbucks by 34.5% in the 1st quarter. Northwest Quadrant Wealth Management LLC now owns 4,266 shares of the coffee company’s stock valued at $390,000 after acquiring an additional 1,095 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SBUX shares. Deutsche Bank Aktiengesellschaft downgraded shares of Starbucks from a “buy” rating to a “hold” rating and decreased their price objective for the company from $108.00 to $89.00 in a report on Wednesday, May 1st. Evercore ISI lowered their price objective on Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. TD Cowen reissued a “hold” rating and set a $85.00 target price on shares of Starbucks in a report on Thursday, June 13th. JPMorgan Chase & Co. dropped their price target on Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Finally, DZ Bank downgraded Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research report on Friday, May 3rd. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Starbucks currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Starbucks Price Performance

Shares of SBUX traded down $0.13 during mid-day trading on Wednesday, reaching $79.15. The company’s stock had a trading volume of 10,705,340 shares, compared to its average volume of 10,426,754. The stock has a market cap of $89.65 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96. Starbucks Co. has a 12-month low of $71.80 and a 12-month high of $107.66. The company’s 50 day moving average is $80.16 and its 200 day moving average is $88.36.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same period last year, the company earned $0.74 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders 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 dividend yield of 2.88%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,750 shares of company stock worth $878,893. 1.98% of the stock is 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.