Starbucks Co. (NASDAQ:SBUX) Stock Holdings Lessened by Gemmer Asset Management LLC

Gemmer Asset Management LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 0.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,336 shares of the coffee company’s stock after selling 751 shares during the period. Starbucks makes up about 1.1% of Gemmer Asset Management LLC’s investment portfolio, making the stock its 27th largest holding. Gemmer Asset Management LLC’s holdings in Starbucks were worth $10,725,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. TrinityPoint Wealth LLC raised its stake in Starbucks by 2.7% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 89 shares during the period. Pioneer Trust Bank N A OR raised its stake in Starbucks by 0.8% during the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock valued at $1,032,000 after purchasing an additional 92 shares during the period. Wintrust Investments LLC raised its stake in Starbucks by 7.1% during the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock valued at $128,000 after purchasing an additional 94 shares during the period. Kuhn & Co Investment Counsel raised its stake in Starbucks by 2.3% during the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after purchasing an additional 96 shares during the period. Finally, Foster Dykema Cabot & Partners LLC raised its stake in Starbucks by 10.6% during the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock valued at $93,000 after purchasing an additional 97 shares during the period. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SBUX. Baird R W downgraded shares of Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Barclays cut their target price on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Tuesday, March 18th. The Goldman Sachs Group downgraded shares of Starbucks from a “buy” rating to a “neutral” rating and cut their target price for the company from $103.00 to $85.00 in a research note on Wednesday, April 30th. Finally, Citigroup cut their target price on shares of Starbucks from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.92.

Starbucks Price Performance

SBUX stock opened at $89.64 on Friday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $117.46. The company has a 50-day moving average of $84.45 and a two-hundred day moving average of $95.19. The stock has a market capitalization of $101.87 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Equities analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Friday, May 16th. Starbucks’s dividend payout ratio is currently 88.41%.

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.