Red Door Wealth Management LLC Has $439,000 Position in Starbucks Co. (NASDAQ:SBUX)

Red Door Wealth Management LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,804 shares of the coffee company’s stock after selling 145 shares during the quarter. Red Door Wealth Management LLC’s holdings in Starbucks were worth $439,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. CWA Asset Management Group LLC lifted its position in shares of Starbucks by 9.9% during the 3rd quarter. CWA Asset Management Group LLC now owns 3,341 shares of the coffee company’s stock valued at $305,000 after acquiring an additional 300 shares during the period. Corton Capital Inc. bought a new stake in Starbucks during the third quarter worth about $467,000. Waverly Advisors LLC grew its stake in Starbucks by 15.7% during the third quarter. Waverly Advisors LLC now owns 5,343 shares of the coffee company’s stock worth $488,000 after buying an additional 726 shares in the last quarter. United Services Automobile Association increased its holdings in Starbucks by 1.2% in the 3rd quarter. United Services Automobile Association now owns 157,479 shares of the coffee company’s stock valued at $14,373,000 after buying an additional 1,877 shares during the period. Finally, First Business Financial Services Inc. raised its position in shares of Starbucks by 5.7% in the 3rd quarter. First Business Financial Services Inc. now owns 2,605 shares of the coffee company’s stock valued at $238,000 after buying an additional 141 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of SBUX traded down $1.39 during trading hours on Friday, hitting $77.85. 13,207,542 shares of the stock were exchanged, compared to its average volume of 10,825,160. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66. The business has a 50-day moving average of $79.66 and a 200-day moving average of $88.02. The firm has a market capitalization of $88.18 billion, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 1.70 and a beta of 0.96.

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

Starbucks Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.93%. Starbucks’s payout ratio is 62.81%.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on 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 $6,264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on 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 $6,264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 10,750 shares of company stock worth $878,893. 1.98% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. William Blair cut shares of Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company lowered their price target on Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Evercore ISI reduced their price objective on Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. UBS Group lowered their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, TD Cowen reissued a “hold” rating and issued a $85.00 target price on shares of Starbucks in a report on Thursday, June 13th. Seventeen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Starbucks currently has an average rating of “Hold” and a consensus price target of $94.54.

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.