Northwest Capital Management Inc Decreases Stock Position in Starbucks Corporation $SBUX

Northwest Capital Management Inc lessened its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 22.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,218 shares of the coffee company’s stock after selling 350 shares during the quarter. Northwest Capital Management Inc’s holdings in Starbucks were worth $112,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Verdence Capital Advisors LLC increased its stake in Starbucks by 40.2% in the second quarter. Verdence Capital Advisors LLC now owns 15,628 shares of the coffee company’s stock worth $1,432,000 after purchasing an additional 4,481 shares during the period. Cascade Investment Advisors Inc. increased its stake in Starbucks by 5.1% in the second quarter. Cascade Investment Advisors Inc. now owns 20,628 shares of the coffee company’s stock worth $1,890,000 after purchasing an additional 993 shares during the period. Oregon Public Employees Retirement Fund increased its stake in Starbucks by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 98,165 shares of the coffee company’s stock worth $8,995,000 after purchasing an additional 600 shares during the period. Sequoia Financial Advisors LLC increased its stake in Starbucks by 10.8% in the second quarter. Sequoia Financial Advisors LLC now owns 44,413 shares of the coffee company’s stock worth $4,070,000 after purchasing an additional 4,340 shares during the period. Finally, Total Clarity Wealth Management Inc. purchased a new stake in Starbucks in the second quarter worth $556,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SBUX shares. Wells Fargo & Company increased their target price on Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Bank of America increased their target price on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Cowen restated a “hold” rating on shares of Starbucks in a research note on Tuesday, June 24th. TD Securities restated a “hold” rating and set a $90.00 price target on shares of Starbucks in a research note on Monday, June 23rd. Finally, Stifel Nicolaus raised their price target on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $102.96.

Starbucks Price Performance

Shares of SBUX stock opened at $80.03 on Tuesday. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The stock’s 50-day moving average is $86.29 and its 200 day moving average is $87.75. The company has a market cap of $90.97 billion, a P/E ratio of 34.50, a PEG ratio of 3.89 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the previous year, the business earned $0.93 EPS. Starbucks’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 3.1%. Starbucks’s dividend payout ratio is 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.