Narwhal Capital Management Has $5.38 Million Holdings in Starbucks Corporation $SBUX

Narwhal Capital Management raised its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 94.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,585 shares of the coffee company’s stock after buying an additional 30,847 shares during the quarter. Narwhal Capital Management’s holdings in Starbucks were worth $5,379,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Game Plan Financial Advisors LLC acquired a new stake in shares of Starbucks during the second quarter valued at approximately $25,000. Transce3nd LLC grew its position in Starbucks by 270.3% during the 2nd quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. Chelsea Counsel Co. purchased a new position in Starbucks during the 2nd quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC raised its stake in Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares during the period. Finally, MTM Investment Management LLC purchased a new stake in shares of Starbucks in the second quarter valued at $28,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 11,700 shares of Starbucks stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average price of $85.00 per share, with a total value of $994,500.00. Following the purchase, the director owned 53,096 shares in the company, valued at approximately $4,513,160. This trade represents a 28.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Starbucks Price Performance

Shares of SBUX stock opened at $88.88 on Friday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The stock’s 50-day moving average is $85.13 and its two-hundred day moving average is $87.13. The firm has a market cap of $101.07 billion, a P/E ratio of 54.20, a PEG ratio of 1.86 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 EPS. As a group, research analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, February 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.8%. Starbucks’s dividend payout ratio is 151.22%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Morgan Stanley set a $105.00 price objective on Starbucks and gave the stock an “overweight” rating in a research report on Monday, October 20th. Zacks Research cut Starbucks from a “hold” rating to a “strong sell” rating in a research note on Monday, December 29th. Mizuho set a $86.00 price target on shares of Starbucks and gave the stock a “neutral” rating in a research report on Friday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Starbucks in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $102.12.

About Starbucks

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.