CreativeOne Wealth LLC Sells 10,744 Shares of Starbucks Co. (NASDAQ:SBUX)

CreativeOne Wealth LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 49.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,203 shares of the coffee company’s stock after selling 10,744 shares during the quarter. CreativeOne Wealth LLC’s holdings in Starbucks were worth $1,024,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Scarborough Advisors LLC bought a new position in Starbucks during the 4th quarter worth approximately $26,000. Vima LLC bought a new position in Starbucks during the 4th quarter worth approximately $26,000. DSM Capital Partners LLC bought a new position in Starbucks during the 4th quarter worth approximately $27,000. Fairman Group LLC bought a new position in Starbucks during the 4th quarter worth approximately $30,000. Finally, Cypress Capital Management LLC WY boosted its stake in Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after acquiring an additional 185 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Guggenheim reduced their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Wedbush dropped their target price on shares of Starbucks from $81.00 to $77.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Wells Fargo & Company dropped their target price on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Citigroup dropped their target price on shares of Starbucks from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Finally, Bank of America raised their target price on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and a consensus price target of $91.71.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks 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 transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated 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 owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, 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. Insiders sold a total of 7,250 shares of company stock valued at $579,375 over the last ninety days. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Performance

SBUX traded up $0.73 during trading on Friday, reaching $74.05. 12,387,111 shares of the stock were exchanged, compared to its average volume of 11,764,148. The stock has a market cap of $83.88 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.66 and a beta of 0.94. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The stock’s 50 day moving average price is $77.88 and its two-hundred day moving average price is $85.24.

Starbucks (NASDAQ:SBUX) last released 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 negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same period last year, the firm earned $0.74 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities research analysts predict that Starbucks Co. will post 3.57 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given 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 yield of 3.08%. Starbucks’s dividend payout ratio (DPR) is 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.