CapWealth Advisors LLC Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

CapWealth Advisors LLC boosted its position in Starbucks Co. (NASDAQ:SBUX) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,516 shares of the coffee company’s stock after buying an additional 691 shares during the period. Starbucks makes up about 1.7% of CapWealth Advisors LLC’s holdings, making the stock its 25th biggest position. CapWealth Advisors LLC’s holdings in Starbucks were worth $15,309,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Integrated Wealth Concepts LLC grew its position in Starbucks by 8.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 49,263 shares of the coffee company’s stock valued at $4,496,000 after buying an additional 3,815 shares during the last quarter. Belpointe Asset Management LLC boosted its position in shares of Starbucks by 26.1% during the 3rd quarter. Belpointe Asset Management LLC now owns 10,476 shares of the coffee company’s stock worth $956,000 after purchasing an additional 2,170 shares in the last quarter. Orion Capital Management LLC purchased a new stake in shares of Starbucks during the 3rd quarter worth $77,000. Financial Gravity Asset Management Inc. boosted its position in shares of Starbucks by 2,156.3% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 226,310 shares of the coffee company’s stock worth $20,655,000 after purchasing an additional 216,280 shares in the last quarter. Finally, Resources Management Corp CT ADV boosted its position in shares of Starbucks by 2.4% during the 3rd quarter. Resources Management Corp CT ADV now owns 23,173 shares of the coffee company’s stock worth $2,115,000 after purchasing an additional 537 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBUX has been the topic of several research analyst reports. DZ Bank lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research report on Friday, May 3rd. Robert W. Baird decreased their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Wells Fargo & Company decreased their target price on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley cut their price target on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, Stifel Nicolaus cut their price target on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $94.54.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’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 completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’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 completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated 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 owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. 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 currently owned by company insiders.

Starbucks Trading Down 2.4 %

Shares of NASDAQ SBUX traded down $1.82 on Tuesday, reaching $72.75. 11,817,550 shares of the company traded hands, compared to its average volume of 10,357,508. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66. The company has a 50 day moving average of $77.91 and a 200 day moving average of $86.93. The stock has a market capitalization of $82.40 billion, a PE ratio of 20.04, a P/E/G ratio of 1.66 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 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 company had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same period in the prior year, the company earned $0.74 EPS. The company’s revenue was down 1.8% compared to the same quarter last year. As a group, research analysts expect that Starbucks Co. will post 3.58 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

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.