Avidian Wealth Solutions LLC Has $1.21 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Avidian Wealth Solutions LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 12.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 13,238 shares of the coffee company’s stock after acquiring an additional 1,443 shares during the period. Avidian Wealth Solutions LLC’s holdings in Starbucks were worth $1,210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in Starbucks by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock valued at $10,362,673,000 after purchasing an additional 1,041,622 shares during the last quarter. Norges Bank bought a new position in Starbucks in the 4th quarter valued at $1,240,652,000. Fisher Asset Management LLC raised its position in shares of Starbucks by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock worth $1,091,378,000 after acquiring an additional 268,030 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Starbucks by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock worth $948,093,000 after acquiring an additional 27,496 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Starbucks by 3.1% during the fourth quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock worth $529,147,000 after acquiring an additional 166,010 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Activity

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 value of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’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 in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders have sold a total of 10,750 shares of company stock worth $878,893 over the last three months. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of recent research reports. Robert W. Baird dropped their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. JPMorgan Chase & Co. dropped their target price on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday. Guggenheim dropped their target price on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, April 19th. William Blair downgraded Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Finally, TD Cowen restated a “hold” rating and set a $85.00 target price on shares of Starbucks in a research report on Thursday, June 13th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $94.46.

Starbucks Stock Performance

NASDAQ:SBUX traded down $0.24 on Wednesday, reaching $72.51. The company’s stock had a trading volume of 11,113,819 shares, compared to its average volume of 10,363,456. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $107.66. The firm has a market cap of $82.13 billion, a PE ratio of 20.06, a PEG ratio of 1.63 and a beta of 0.94. The business’s 50-day moving average price is $77.91 and its two-hundred day moving average price is $86.93.

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 analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. As a group, sell-side analysts expect that Starbucks Co. will post 3.58 EPS for the current year.

Starbucks Dividend Announcement

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 issued a $0.57 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.14%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

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.