Narwhal Capital Management Has $2.29 Million Position in Starbucks Co. (NASDAQ:SBUX)

Narwhal Capital Management lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 23.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 23,501 shares of the coffee company’s stock after selling 7,143 shares during the period. Narwhal Capital Management’s holdings in Starbucks were worth $2,291,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SBUX. Fidelis Capital Partners LLC boosted its position in shares of Starbucks by 18.7% in the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after acquiring an additional 1,751 shares during the period. AMI Asset Management Corp grew its position in Starbucks by 2.8% in the 1st quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock worth $33,384,000 after purchasing an additional 10,092 shares during the last quarter. LRI Investments LLC bought a new position in shares of Starbucks during the 1st quarter worth about $136,000. BNP Paribas acquired a new position in shares of Starbucks during the first quarter valued at about $9,332,000. Finally, Great Valley Advisor Group Inc. lifted its stake in shares of Starbucks by 45.8% in the second quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after buying an additional 5,377 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $96.82 on Wednesday. The firm has a 50 day simple moving average of $95.31 and a 200 day simple moving average of $84.80. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm has a market cap of $109.67 billion, a P/E ratio of 26.67, a P/E/G ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 earnings per share. On average, sell-side analysts expect that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.52%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BMO Capital Markets boosted their price target on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Citigroup upped their target price on Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Barclays lifted their price target on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Wedbush restated a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. Finally, DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $102.40.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

Starbucks 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.