Jaffetilchin Investment Partners LLC Decreases Stock Holdings in Starbucks Corporation $SBUX

Jaffetilchin Investment Partners LLC lessened its stake in Starbucks Corporation (NASDAQ:SBUX) by 12.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,867 shares of the coffee company’s stock after selling 1,137 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Starbucks were worth $721,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. PUREfi Wealth LLC purchased a new position in Starbucks in the 2nd quarter valued at $286,000. Narwhal Capital Management raised its position in shares of Starbucks by 39.6% in the second quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock valued at $3,000,000 after buying an additional 9,282 shares during the last quarter. Napa Wealth Management purchased a new position in shares of Starbucks in the first quarter worth about $1,435,000. Morningstar Investment Management LLC acquired a new position in Starbucks during the second quarter worth about $653,000. Finally, Pegasus Asset Management Inc. purchased a new stake in Starbucks during the 2nd quarter valued at about $1,289,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 11,700 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the acquisition, the director owned 53,096 shares in the company, valued at approximately $4,513,160. This trade represents a 28.26% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of several recent research reports. BMO Capital Markets restated an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. UBS Group set a $94.00 price objective on Starbucks and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Wells Fargo & Company set a $100.00 price target on Starbucks and gave the stock an “overweight” rating in a report on Thursday, October 16th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, Royal Bank Of Canada set a $100.00 price target on shares of Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $101.44.

Starbucks Stock Down 2.4%

NASDAQ:SBUX opened at $83.34 on Tuesday. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The stock’s fifty day moving average is $83.85 and its two-hundred day moving average is $87.67. The stock has a market capitalization of $94.77 billion, a price-to-earnings ratio of 50.82, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.Starbucks’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. On average, sell-side analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.0%. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s payout ratio is presently 151.22%.

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.