Vanguard Capital Wealth Advisors Sells 696 Shares of Starbucks Co. (NASDAQ:SBUX)

Vanguard Capital Wealth Advisors trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 19.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,942 shares of the coffee company’s stock after selling 696 shares during the period. Vanguard Capital Wealth Advisors’ holdings in Starbucks were worth $269,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Chesley Taft & Associates LLC increased its position in shares of Starbucks by 0.7% in the first quarter. Chesley Taft & Associates LLC now owns 74,206 shares of the coffee company’s stock worth $6,782,000 after purchasing an additional 500 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Starbucks by 5.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 531,320 shares of the coffee company’s stock worth $48,557,000 after buying an additional 25,772 shares during the last quarter. Procyon Advisors LLC raised its position in shares of Starbucks by 6.4% during the 1st quarter. Procyon Advisors LLC now owns 32,074 shares of the coffee company’s stock valued at $2,931,000 after buying an additional 1,927 shares in the last quarter. Cardinal Capital Management lifted its holdings in shares of Starbucks by 10.2% during the 1st quarter. Cardinal Capital Management now owns 78,875 shares of the coffee company’s stock worth $7,208,000 after acquiring an additional 7,292 shares during the last quarter. Finally, ERn Financial LLC grew its position in Starbucks by 4.1% in the first quarter. ERn Financial LLC now owns 4,514 shares of the coffee company’s stock worth $413,000 after acquiring an additional 177 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SBUX. Guggenheim dropped their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 19th. DZ Bank downgraded Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research report on Friday, May 3rd. Wells Fargo & Company reduced their price target 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. Piper Sandler cut their price objective on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Finally, Jefferies Financial Group decreased their target price on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $94.54.

Starbucks Stock Performance

Shares of SBUX traded down $1.32 on Friday, hitting $77.92. 2,026,629 shares of the stock traded hands, compared to its average volume of 10,358,263. Starbucks Co. has a one year low of $71.80 and a one year high of $107.66. The company has a market capitalization of $88.26 billion, a PE ratio of 21.83, a P/E/G ratio of 1.73 and a beta of 0.96. The business has a 50 day simple moving average of $80.02 and a 200 day simple moving average of $88.29.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $9.12 billion. During the same quarter in the prior year, the company posted $0.74 EPS. Starbucks’s revenue was down 1.8% on a year-over-year basis. On average, equities analysts expect that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Dividend Announcement

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

Insider Transactions at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were 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 directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Rachel Ruggeri sold 3,750 shares of the 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on 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 approximately $6,933,582.61. The disclosure for this sale can be found here. Insiders have sold 10,750 shares of company stock worth $878,893 in the last quarter. Company insiders own 1.98% of the company’s stock.

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.