It depends on a couple of things--
Is your material exactly 54 inches and does that include the selvedges. Sometimes they say 54 and it is really 53--52 or 55.

Is the repeat really noticable and do you need it to center it or can you start at any point. If you have to is it sold at the beginning of the pattern or just where the last customer took her yardage--this last is how most fabric comes.

If your fabric is indeed 54 inches. If you can cut it as is and don't need to center the pattern you would need 6 3/4 yards--although I would probably add a yard or so to be on the safe side.

Cut it like this
the strip for the cushion insert down one side. 238 inches.
Next to that the 2 cushion pieces each 29 1/4 by 91 1/4--front and back placed end to end.
You can get the pillows off of what is remaining. I have allowed 5/8 inch seam allowances.

If your material is not 54 inches wide then you won't be able to get 16 inch cushions out of what remains and would have to buy extra for them. If you have to center the pattern that would mean extra too