Narwhal Capital Management Has $2.22 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Narwhal Capital Management increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.6% in the 4th quarter, HoldingsChannel reports. The firm owned 24,349 shares of the coffee company’s stock after acquiring an additional 848 shares during the quarter. Narwhal Capital Management’s holdings in Starbucks were worth $2,222,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Starbucks by 5.8% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 40,680 shares of the coffee company’s stock worth $3,712,000 after buying an additional 2,242 shares during the last quarter. Stablepoint Partners LLC grew its position in Starbucks by 2.0% during the 4th quarter. Stablepoint Partners LLC now owns 30,003 shares of the coffee company’s stock worth $2,738,000 after acquiring an additional 576 shares during the last quarter. MKT Advisors LLC increased its holdings in Starbucks by 10.4% in the 4th quarter. MKT Advisors LLC now owns 8,351 shares of the coffee company’s stock worth $794,000 after purchasing an additional 789 shares in the last quarter. Avaii Wealth Management LLC bought a new position in Starbucks in the fourth quarter valued at about $280,000. Finally, Jamison Private Wealth Management Inc. boosted its stake in shares of Starbucks by 4.9% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 10,301 shares of the coffee company’s stock valued at $940,000 after purchasing an additional 485 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $98.81 on Monday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32. The business’s 50 day simple moving average is $95.66 and its two-hundred day simple moving average is $92.39. The firm has a market cap of $112.03 billion, a P/E ratio of 29.85, a PEG ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the business earned $1.06 EPS. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities analysts forecast that Starbucks Co. will post 3.08 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several recent research reports. BTIG Research upped their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Bank of America cut their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Stifel Nicolaus increased their price target on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley lifted their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

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.