Starbucks Co. (NASDAQ:SBUX) Stock Position Reduced by Narwhal Capital Management

Narwhal Capital Management trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 3.0% in the second quarter, Holdings Channel.com reports. The fund owned 30,644 shares of the coffee company’s stock after selling 952 shares during the period. Narwhal Capital Management’s holdings in Starbucks were worth $2,386,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cox Capital Mgt LLC lifted its position in shares of Starbucks by 41.9% in the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after buying an additional 13,372 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in Starbucks in the fourth quarter valued at approximately $2,781,000. Sanibel Captiva Trust Company Inc. bought a new position in shares of Starbucks during the fourth quarter valued at approximately $31,246,000. Fidelis Capital Partners LLC raised its position in shares of Starbucks by 18.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after purchasing an additional 1,751 shares during the period. Finally, Bell & Brown Wealth Advisors LLC bought a new stake in shares of Starbucks in the 4th quarter worth approximately $4,048,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on SBUX. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their price target for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Finally, BMO Capital Markets cut their price target on Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $99.42.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. Insiders sold a total of 9,790 shares of company stock worth $865,514 over the last ninety days. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Performance

Starbucks stock opened at $91.15 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The firm’s 50 day moving average price is $82.41 and its two-hundred day moving average price is $83.94. The firm has a market cap of $103.25 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the previous year, the firm posted $1.00 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. As a group, equities analysts predict that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Friday, August 16th. Starbucks’s dividend payout ratio is presently 62.81%.

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.