Narwhal Capital Management Increases Stock Holdings in Starbucks Corporation $SBUX

Narwhal Capital Management raised its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 39.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,738 shares of the coffee company's stock after purchasing an additional 9,282 shares during the quarter. Narwhal Capital Management's holdings in Starbucks were worth $3,000,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Gagnon Securities LLC grew its stake in shares of Starbucks by 15.8% in the 2nd quarter. Gagnon Securities LLC now owns 5,642 shares of the coffee company's stock valued at $517,000 after purchasing an additional 770 shares during the last quarter. Castle Rock Wealth Management LLC grew its stake in shares of Starbucks by 16.5% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 20,339 shares of the coffee company's stock valued at $1,902,000 after purchasing an additional 2,885 shares during the last quarter. Morton Capital Management LLC CA grew its stake in shares of Starbucks by 8.0% in the 2nd quarter. Morton Capital Management LLC CA now owns 7,190 shares of the coffee company's stock valued at $659,000 after purchasing an additional 534 shares during the last quarter. WoodTrust Financial Corp lifted its holdings in shares of Starbucks by 3.1% in the 2nd quarter. WoodTrust Financial Corp now owns 79,149 shares of the coffee company's stock valued at $7,252,000 after buying an additional 2,409 shares during the period. Finally, Winthrop Advisory Group LLC lifted its holdings in shares of Starbucks by 12.2% in the 2nd quarter. Winthrop Advisory Group LLC now owns 10,224 shares of the coffee company's stock valued at $937,000 after buying an additional 1,115 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBUX has been the subject of several recent analyst reports. TD Securities reissued a "hold" rating and issued a $90.00 price target on shares of Starbucks in a report on Monday, June 23rd. Loop Capital set a $165.00 price target on Starbucks in a report on Tuesday, August 12th. Morgan Stanley reissued an "overweight" rating and issued a $103.00 price target (up from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. Cowen reissued a "hold" rating on shares of Starbucks in a report on Tuesday, June 24th. Finally, Evercore ISI reissued an "outperform" rating and issued a $105.00 price target (up from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.00.

Starbucks Stock Performance

Shares of SBUX stock opened at $80.04 on Thursday. The stock has a fifty day moving average price of $86.84 and a 200 day moving average price of $88.25. The stock has a market cap of $90.98 billion, a PE ratio of 34.50, a P/E/G ratio of 4.01 and a beta of 1.01. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.93 earnings per share. As a group, equities research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a dividend of $0.62 per share. This is a boost from Starbucks's previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks's payout ratio is presently 105.17%.

About Starbucks

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.

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