Carlton Hofferkamp & Jenks Wealth Management LLC Has $622,000 Stock Position in Starbucks Corporation $SBUX

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

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Vanguard Group Inc. increased its stake in Starbucks by 0.9% in the first quarter. Vanguard Group Inc. now owns 112,059,570 shares of the coffee company’s stock valued at $10,991,923,000 after acquiring an additional 953,361 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock worth $1,904,366,000 after acquiring an additional 3,545,655 shares in the last quarter. Nuveen LLC bought a new stake in Starbucks during the 1st quarter worth approximately $1,379,619,000. Goldman Sachs Group Inc. increased its holdings in Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after purchasing an additional 3,589,537 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in Starbucks in the 1st quarter valued at $817,759,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup cut their price target on Starbucks from $99.00 to $84.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Morgan Stanley set a $105.00 price target on Starbucks and gave the company an “overweight” rating in a research report on Monday. Barclays cut their price target on Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, Guggenheim lifted their price objective on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.80.

Starbucks Price Performance

NASDAQ SBUX opened at $86.09 on Friday. The business has a fifty day moving average price of $85.01 and a two-hundred day moving average price of $87.47. The stock has a market capitalization of $97.86 billion, a PE ratio of 37.11, a PEG ratio of 4.28 and a beta of 1.01. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.Starbucks’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $0.93 EPS. As a group, sell-side analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a boost 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%. Starbucks’s payout ratio is presently 105.17%.

Starbucks Company 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.