Starbucks Co. (NASDAQ:SBUX) Shares Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC raised its position in Starbucks Co. (NASDAQ:SBUX) by 8,935.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,096 shares of the coffee company’s stock after purchasing an additional 13,940 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Starbucks were worth $1,097,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after acquiring an additional 470,498 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Starbucks by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock worth $1,090,654,000 after acquiring an additional 260,489 shares during the last quarter. Flossbach Von Storch AG lifted its holdings in shares of Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Starbucks by 5.2% during the 1st quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after buying an additional 266,570 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Starbucks by 12.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 5,254,384 shares of the coffee company’s stock worth $504,473,000 after buying an additional 574,763 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of research reports. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Jefferies Financial Group reduced their target price on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. TD Cowen reiterated a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $100.08.

Starbucks Price Performance

NASDAQ SBUX opened at $96.05 on Monday. The firm’s fifty day moving average price is $86.67 and its 200 day moving average price is $83.99. The company has a market capitalization of $108.84 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same period last year, the firm posted $1.00 EPS. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts forecast that Starbucks Co. will post 3.56 earnings per share for the current year.

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.