Castleark Management LLC Has $423,000 Stock Position in Starbucks Corporation $SBUX

Castleark Management LLC reduced its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 98.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 4,620 shares of the coffee company’s stock after selling 229,972 shares during the period. Castleark Management LLC’s holdings in Starbucks were worth $423,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. PUREfi Wealth LLC bought a new position in Starbucks in the 2nd quarter valued at approximately $286,000. Narwhal Capital Management increased its holdings in shares of Starbucks by 39.6% during the second 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. Napa Wealth Management bought a new position in shares of Starbucks in the 1st quarter valued at $1,435,000. Morningstar Investment Management LLC acquired a new stake in shares of Starbucks during the 2nd quarter valued at $653,000. Finally, Pegasus Asset Management Inc. bought a new stake in Starbucks during the 2nd quarter worth $1,289,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SBUX. Dbs Bank downgraded Starbucks from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. BMO Capital Markets reiterated an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. Piper Sandler cut their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. UBS Group set a $94.00 price target on shares of Starbucks and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Finally, BTIG Research reiterated a “buy” rating and set a $105.00 price target on shares of Starbucks in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.44.

Starbucks Stock Performance

Starbucks stock opened at $85.35 on Monday. The firm has a market cap of $97.05 billion, a price-to-earnings ratio of 52.04, a PEG ratio of 1.74 and a beta of 0.98. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a 50 day moving average price of $84.00 and a two-hundred day moving average price of $87.69.

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

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $0.62 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is 151.22%.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were bought at an average cost of $85.00 per share, with a total value of $994,500.00. Following the purchase, the director directly owned 53,096 shares of the company’s stock, valued at $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 is available at this hyperlink. Company insiders own 0.09% of the company’s stock.

Starbucks Profile

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.