Castleark Management LLC Has $423,000 Stock Holdings in Starbucks Corporation $SBUX

Castleark Management LLC lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 98.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,620 shares of the coffee company’s stock after selling 229,972 shares during the quarter. Castleark Management LLC’s holdings in Starbucks were worth $423,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SBUX. Game Plan Financial Advisors LLC bought a new position in Starbucks in the 2nd quarter worth approximately $25,000. Transce3nd LLC increased its stake in shares of Starbucks by 270.3% in the 2nd quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after buying an additional 200 shares during the period. Chelsea Counsel Co. bought a new stake in shares of Starbucks during the second quarter worth $26,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 159 shares during the period. Finally, MTM Investment Management LLC bought a new position in Starbucks in the second quarter valued at about $28,000. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays cut their target price on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Dbs Bank cut shares of Starbucks from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Starbucks in a report on Monday, December 8th. Piper Sandler cut their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada set a $100.00 price target on Starbucks and gave the stock an “outperform” rating in a research report on Thursday, October 30th. One 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.44.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp purchased 11,700 shares of Starbucks 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 completion of the acquisition, the director directly owned 53,096 shares of the company’s stock, valued at $4,513,160. This represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Starbucks Stock Performance

SBUX opened at $85.35 on Monday. The firm’s fifty day moving average is $84.00 and its two-hundred day moving average is $87.69. The firm has a market cap of $97.05 billion, a PE ratio of 52.04, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly 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 during the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. Starbucks’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.80 EPS. Equities analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, February 13th. Starbucks’s dividend payout ratio (DPR) is 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.