South Plains Financial Inc. Has $296,000 Stake in Starbucks Corporation $SBUX

South Plains Financial Inc. cut its stake in Starbucks Corporation (NASDAQ:SBUX) by 16.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,230 shares of the coffee company’s stock after selling 614 shares during the quarter. South Plains Financial Inc.’s holdings in Starbucks were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of SBUX. Game Plan Financial Advisors LLC bought a new stake in Starbucks during the second quarter worth $25,000. Chelsea Counsel Co. purchased a new position in Starbucks during the 2nd quarter worth $26,000. CBIZ Investment Advisory Services LLC boosted its holdings in Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after acquiring an additional 159 shares during the last quarter. MTM Investment Management LLC bought a new stake in shares of Starbucks in the 2nd quarter worth $28,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Starbucks in the first quarter valued at about $29,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of several analyst reports. UBS Group set a $94.00 price target on shares of Starbucks and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $100.00 to $115.00 in a research report on Tuesday, August 12th. Dbs Bank downgraded Starbucks from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Loop Capital set a $165.00 target price on Starbucks in a report on Tuesday, August 12th. Finally, Mizuho upgraded Starbucks to a “hold” rating in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $101.44.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the purchase, the director owned 53,096 shares of the company’s stock, valued at $4,513,160. The trade was a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Starbucks Stock Up 3.3%

SBUX opened at $85.35 on Monday. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The company’s 50-day moving average price is $83.83 and its two-hundred day moving average price is $87.66. The stock has a market cap of $97.05 billion, a price-to-earnings ratio of 52.04, a PEG ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results 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 negative return on equity of 31.84% and a net margin of 4.99%.The company had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. During the same period last year, the firm posted $0.80 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is currently 151.22%.

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.