National Asset Management Inc. Has $5.96 Million Stake in Starbucks Co. (NASDAQ:SBUX)

National Asset Management Inc. trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,323 shares of the coffee company’s stock after selling 1,160 shares during the period. National Asset Management Inc.’s holdings in Starbucks were worth $5,959,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SBUX. Signet Financial Management LLC grew its holdings in Starbucks by 5.2% during the 1st quarter. Signet Financial Management LLC now owns 2,294 shares of the coffee company’s stock worth $251,000 after acquiring an additional 113 shares during the period. Lakeview Capital Partners LLC lifted its position in Starbucks by 14.0% in the 1st quarter. Lakeview Capital Partners LLC now owns 2,972 shares of the coffee company’s stock valued at $325,000 after acquiring an additional 366 shares in the last quarter. GSB Wealth Management LLC bought a new position in shares of Starbucks during the 1st quarter worth approximately $384,000. Newman Dignan & Sheerar Inc. bought a new position in shares of Starbucks during the 1st quarter worth approximately $326,000. Finally, Community Bank & Trust Waco Texas increased its stake in shares of Starbucks by 6.4% during the 1st quarter. Community Bank & Trust Waco Texas now owns 2,644 shares of the coffee company’s stock worth $289,000 after purchasing an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 68.27% of the company’s stock.

Starbucks stock traded down $4.09 during midday trading on Wednesday, reaching $114.77. 144,972 shares of the company were exchanged, compared to its average volume of 5,848,181. The company has a market capitalization of $135.33 billion, a price-to-earnings ratio of 49.73, a P/E/G ratio of 3.06 and a beta of 0.88. The firm’s 50-day simple moving average is $118.21 and its 200-day simple moving average is $114.01. Starbucks Co. has a 1 year low of $81.75 and a 1 year high of $126.32.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Monday, July 26th. The coffee company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.78 by $0.23. Starbucks had a negative return on equity of 43.16% and a net margin of 10.43%. The firm had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.26 billion. During the same period in the previous year, the company posted ($0.46) EPS. Starbucks’s revenue for the quarter was up 77.6% on a year-over-year basis. On average, sell-side analysts expect that Starbucks Co. will post 3.25 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Investors of record on Thursday, August 12th were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, August 11th. This represents a $1.80 dividend on an annualized basis and a yield of 1.57%. Starbucks’s payout ratio is currently 153.85%.

Several analysts have weighed in on SBUX shares. Guggenheim began coverage on shares of Starbucks in a research note on Monday, July 26th. They issued a “neutral” rating and a $125.00 price target for the company. Royal Bank of Canada boosted their price objective on shares of Starbucks from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. Cowen upped their price objective on shares of Starbucks from $126.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Morgan Stanley upped their target price on shares of Starbucks from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 28th. Finally, Piper Sandler increased their price objective on shares of Starbucks from $104.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, July 28th. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, Starbucks presently has an average rating of “Buy” and an average target price of $126.15.

In related news, COO John Culver sold 148,619 shares of the stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $119.00, for a total value of $17,685,661.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin R. Johnson sold 359,177 shares of the company’s stock in a transaction dated Thursday, July 29th. The stock was sold at an average price of $122.81, for a total value of $44,110,527.37. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.

Starbucks Company Profile

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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