Nachman Norwood & Parrott Inc Purchases 159 Shares of Starbucks Co. (NASDAQ:SBUX)

Nachman Norwood & Parrott Inc lifted its position in Starbucks Co. (NASDAQ:SBUX) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,838 shares of the coffee company’s stock after acquiring an additional 159 shares during the quarter. Nachman Norwood & Parrott Inc’s holdings in Starbucks were worth $416,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Endurance Wealth Management Inc. grew its stake in Starbucks by 1,352.7% in the second quarter. Endurance Wealth Management Inc. now owns 32,817 shares of the coffee company’s stock valued at $2,415,000 after purchasing an additional 30,558 shares during the last quarter. Signature Wealth Management Group grew its stake in Starbucks by 8.8% in the second quarter. Signature Wealth Management Group now owns 9,688 shares of the coffee company’s stock valued at $713,000 after purchasing an additional 787 shares during the last quarter. Clearbridge Investments LLC grew its stake in Starbucks by 7.7% in the first quarter. Clearbridge Investments LLC now owns 154,666 shares of the coffee company’s stock valued at $10,168,000 after purchasing an additional 11,024 shares during the last quarter. D. B. Root & Company LLC grew its stake in Starbucks by 3.0% in the second quarter. D. B. Root & Company LLC now owns 11,700 shares of the coffee company’s stock valued at $861,000 after purchasing an additional 343 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Starbucks by 2.1% in the second quarter. State of Alaska Department of Revenue now owns 207,745 shares of the coffee company’s stock valued at $15,287,000 after purchasing an additional 4,300 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Shares of NASDAQ:SBUX opened at $88.52 on Friday. Starbucks Co. has a 12-month low of $50.02 and a 12-month high of $94.13. The company has a market capitalization of $103.48 billion, a PE ratio of 79.75, a PEG ratio of 6.38 and a beta of 0.81. The business has a 50 day moving average of $86.35 and a two-hundred day moving average of $78.11.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.61) by $0.15. The company had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $4.14 billion. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. Starbucks’s revenue for the quarter was down 38.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. On average, equities research analysts anticipate that Starbucks Co. will post 0.97 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Thursday, November 12th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.03%. This is an increase from Starbucks’s previous quarterly dividend of $0.41. The ex-dividend date is Tuesday, November 10th. Starbucks’s dividend payout ratio is presently 57.95%.

SBUX has been the topic of a number of research analyst reports. Citigroup boosted their price target on Starbucks from $87.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. ValuEngine lowered Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Monday, August 24th. Morgan Stanley boosted their price target on Starbucks from $79.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted their price target on Starbucks from $93.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday. Sixteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $86.73.

In other news, Director Clara Shih sold 37,498 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $79.13, for a total transaction of $2,967,216.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Myron E. Ullman III sold 4,252 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $86.97, for a total value of $369,796.44. Following the transaction, the director now directly owns 22,776 shares of the company’s stock, valued at $1,980,828.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 153,764 shares of company stock valued at $13,404,656. Corporate insiders own 0.41% of the company’s stock.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in three segments: Americas; International; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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