Gemmer Asset Management LLC Has $8.65 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Gemmer Asset Management LLC reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 1.0% during the second quarter, HoldingsChannel reports. The firm owned 111,106 shares of the coffee company’s stock after selling 1,142 shares during the quarter. Starbucks accounts for about 0.9% of Gemmer Asset Management LLC’s investment portfolio, making the stock its 28th largest holding. Gemmer Asset Management LLC’s holdings in Starbucks were worth $8,650,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SBUX. Allspring Global Investments Holdings LLC increased its stake in shares of Starbucks by 10.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 159,460 shares of the coffee company’s stock valued at $15,310,000 after buying an additional 14,671 shares during the period. Perigon Wealth Management LLC grew its holdings in Starbucks by 3.9% during the 4th quarter. Perigon Wealth Management LLC now owns 26,699 shares of the coffee company’s stock worth $2,563,000 after acquiring an additional 1,000 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new position in Starbucks in the 4th quarter valued at approximately $38,000. ORG Partners LLC raised its stake in shares of Starbucks by 159.0% during the fourth quarter. ORG Partners LLC now owns 3,662 shares of the coffee company’s stock valued at $352,000 after acquiring an additional 2,248 shares during the last quarter. Finally, Ingalls & Snyder LLC lifted its holdings in shares of Starbucks by 2.5% during the fourth quarter. Ingalls & Snyder LLC now owns 6,545 shares of the coffee company’s stock worth $628,000 after purchasing an additional 160 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. BMO Capital Markets lowered their target price on Starbucks from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Wells Fargo & Company reduced their target price on Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Bank of America raised their price target on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Starbucks from $89.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. Fourteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Starbucks currently has an average rating of “Hold” and a consensus target price of $93.04.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,250 shares of company stock valued at $579,375. Corporate insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded up $18.87 during midday trading on Tuesday, hitting $95.90. 156,973,288 shares of the company’s stock were exchanged, compared to its average volume of 11,757,102. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a market cap of $108.63 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 1.80 and a beta of 0.94. The stock has a 50 day moving average price of $77.18 and a 200-day moving average price of $83.82.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 earnings per share. On average, analysts anticipate that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.38%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

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.