Northwest Capital Management Inc Trims Holdings in Starbucks Corporation $SBUX

Northwest Capital Management Inc trimmed its position in Starbucks Corporation (NASDAQ:SBUX) by 22.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Narwhal Capital Management increased its holdings in Starbucks by 39.6% in the 2nd quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock worth $3,000,000 after acquiring an additional 9,282 shares in the last quarter. PUREfi Wealth LLC bought a new position in Starbucks in the 2nd quarter worth approximately $286,000. Napa Wealth Management bought a new position in Starbucks in the 1st quarter worth approximately $1,435,000. Personal CFO Solutions LLC boosted its stake in Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock worth $908,000 after purchasing an additional 5,151 shares during the period. Finally, Pegasus Asset Management Inc. bought a new position in Starbucks in the 2nd quarter worth approximately $1,289,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Starbucks in a research note on Wednesday, October 8th. TD Securities restated a “hold” rating and issued a $90.00 price target on shares of Starbucks in a research note on Monday, June 23rd. JPMorgan Chase & Co. upped their price target 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 upped their price target on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Finally, Evercore ISI restated an “outperform” rating and issued a $105.00 price target (up from $95.00) on shares of Starbucks in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $102.96.

Starbucks Stock Performance

NASDAQ SBUX opened at $80.03 on Tuesday. The stock has a 50 day moving average price of $86.29 and a 200-day moving average price of $87.75. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The company has a market capitalization of $90.97 billion, a P/E ratio of 34.50, a P/E/G ratio of 3.89 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $9.29 billion. During the same quarter in the previous year, the company posted $0.93 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared 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 represents a $2.48 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, November 14th. This is a boost from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is currently 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.