Gemmer Asset Management LLC Sells 339 Shares of Starbucks Corporation $SBUX

Gemmer Asset Management LLC lessened its holdings in Starbucks Corporation (NASDAQ:SBUX) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,997 shares of the coffee company’s stock after selling 339 shares during the quarter. Gemmer Asset Management LLC’s holdings in Starbucks were worth $9,987,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Alliance Wealth Advisors LLC lifted its position in shares of Starbucks by 2.1% in the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after purchasing an additional 108 shares in the last quarter. Brown Lisle Cummings Inc. lifted its position in shares of Starbucks by 1.4% in the second quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after purchasing an additional 117 shares in the last quarter. Diligent Investors LLC lifted its position in shares of Starbucks by 1.9% in the second quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock worth $562,000 after purchasing an additional 117 shares in the last quarter. Ted Buchan & Co lifted its position in shares of Starbucks by 1.5% in the first quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock worth $791,000 after purchasing an additional 120 shares in the last quarter. Finally, Alexander Labrunerie & CO. Inc. lifted its position in shares of Starbucks by 3.5% in the first quarter. Alexander Labrunerie & CO. Inc. now owns 3,561 shares of the coffee company’s stock worth $349,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SBUX. TD Securities restated a “hold” rating and set a $90.00 target price on shares of Starbucks in a report on Monday, June 23rd. Stifel Nicolaus boosted their target price on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Bank of America boosted their target price on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Cowen restated a “hold” rating on shares of Starbucks in a report on Tuesday, June 24th. Finally, Citigroup lowered their target price on shares of Starbucks from $100.00 to $99.00 and set a “neutral” rating on the stock in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $104.00.

Starbucks Trading Down 0.3%

SBUX opened at $86.42 on Friday. The company’s 50 day moving average is $87.56 and its 200-day moving average is $88.53. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The company has a market cap of $98.23 billion, a P/E ratio of 37.25, a PEG ratio of 4.25 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the previous year, the business posted $0.93 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is 105.17%.

Starbucks 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.