Carlton Hofferkamp & Jenks Wealth Management LLC Trims Stock Position in Starbucks Corporation $SBUX

Carlton Hofferkamp & Jenks Wealth Management LLC trimmed its position in Starbucks Corporation (NASDAQ:SBUX) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,709 shares of the coffee company’s stock after selling 242 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Starbucks were worth $622,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Narwhal Capital Management raised its stake in shares of Starbucks by 39.6% during the 2nd quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock worth $3,000,000 after buying an additional 9,282 shares in the last quarter. PUREfi Wealth LLC purchased a new position in shares of Starbucks in the 2nd quarter valued at about $286,000. Napa Wealth Management acquired a new stake in shares of Starbucks during the 1st quarter valued at approximately $1,435,000. Morningstar Investment Management LLC purchased a new stake in shares of Starbucks during the 2nd quarter worth approximately $653,000. Finally, Pegasus Asset Management Inc. acquired a new stake in shares of Starbucks in the 2nd quarter worth approximately $1,289,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Up 0.8%

NASDAQ SBUX opened at $86.09 on Friday. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The stock has a market cap of $97.86 billion, a P/E ratio of 37.11, a PEG ratio of 4.28 and a beta of 1.01. The company’s fifty day simple moving average is $85.01 and its 200-day simple moving average is $87.47.

Starbucks (NASDAQ:SBUX) last announced 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). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter last year, the business earned $0.93 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio is presently 105.17%.

Analyst Upgrades and Downgrades

SBUX has been the subject of several research reports. Wells Fargo & Company set a $100.00 price objective on Starbucks and gave the stock an “overweight” rating in a report on Thursday, October 16th. BMO Capital Markets restated an “outperform” rating and issued a $115.00 price target (up previously from $100.00) on shares of Starbucks in a research report on Wednesday, July 30th. Stifel Nicolaus boosted their price objective on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a research note on Wednesday, October 8th. Finally, BTIG Research set a $105.00 target price on shares of Starbucks in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.80.

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.