LVW Advisors LLC Has $227,000 Position in Starbucks Co. (NASDAQ:SBUX)

LVW Advisors LLC cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 12.4% during the 1st quarter, HoldingsChannel reports. The fund owned 2,483 shares of the coffee company’s stock after selling 351 shares during the quarter. LVW Advisors LLC’s holdings in Starbucks were worth $227,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Axxcess Wealth Management LLC acquired a new stake in Starbucks during the third quarter worth about $1,468,000. AXQ Capital LP bought a new position in shares of Starbucks in the third quarter worth about $803,000. Legacy Advisors LLC lifted its holdings in shares of Starbucks by 13.9% in the third quarter. Legacy Advisors LLC now owns 28,465 shares of the coffee company’s stock worth $2,598,000 after acquiring an additional 3,467 shares during the last quarter. Lakeshore Financial Planning Inc. bought a new position in shares of Starbucks in the third quarter worth about $205,000. Finally, Seven Eight Capital LP lifted its holdings in shares of Starbucks by 231.7% in the third quarter. Seven Eight Capital LP now owns 92,661 shares of the coffee company’s stock worth $8,457,000 after acquiring an additional 64,724 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

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

Starbucks Price Performance

NASDAQ SBUX opened at $77.85 on Monday. The stock has a market capitalization of $88.18 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.70 and a beta of 0.94. Starbucks Co. has a one year low of $71.80 and a one year high of $107.66. The business’s fifty day moving average is $79.66 and its 200-day moving average is $87.95.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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). The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Research analysts expect that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.93%. Starbucks’s payout ratio is 62.81%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SBUX shares. DZ Bank cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a report on Friday, May 3rd. HSBC dropped their price objective on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a report on Friday, May 3rd. UBS Group dropped their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Finally, Piper Sandler decreased their target price on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Seventeen 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 stock currently has a consensus rating of “Hold” and a consensus price target of $94.54.

Starbucks Company 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.