Starbucks Corporation $SBUX Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lessened its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 9.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,856 shares of the coffee company’s stock after selling 1,640 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Starbucks were worth $1,453,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Game Plan Financial Advisors LLC bought a new stake in shares of Starbucks in the second quarter worth $25,000. Chelsea Counsel Co. acquired a new position in Starbucks during the 2nd quarter worth $26,000. CBIZ Investment Advisory Services LLC increased its position in shares of Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares during the last quarter. MTM Investment Management LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at about $28,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Starbucks during the first quarter worth about $29,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $83.33 on Wednesday. The firm has a market capitalization of $94.72 billion, a PE ratio of 50.81, a P/E/G ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The business’s fifty day moving average price is $83.74 and its two-hundred day moving average price is $87.63.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 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 the consensus estimate of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 EPS. Equities research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

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

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average cost of $85.00 per share, with a total value of $994,500.00. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SBUX. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $100.00 to $115.00 in a report on Tuesday, August 12th. Piper Sandler dropped their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Loop Capital set a $165.00 price objective on Starbucks in a research note on Tuesday, August 12th. Dbs Bank lowered shares of Starbucks from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Finally, TD Cowen restated a “hold” rating and issued a $84.00 price target on shares of Starbucks in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $101.44.

About Starbucks

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.