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

Frank Rimerman Advisors LLC raised its stake in Starbucks Co. (NASDAQ:SBUX – Free Report) by 8,935.9% during the second quarter, Holdings Channel reports. The firm owned 14,096 shares of the coffee company’s stock after buying an additional 13,940 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Starbucks were worth $1,097,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cox Capital Mgt LLC boosted its holdings in Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after acquiring an additional 13,372 shares in the last quarter. Brevan Howard Capital Management LP acquired a new position in Starbucks in the 4th quarter valued at approximately $2,781,000. Sanibel Captiva Trust Company Inc. purchased a new position in Starbucks during the fourth quarter valued at about $31,246,000. Fidelis Capital Partners LLC boosted its holdings in Starbucks by 18.7% in the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after purchasing an additional 1,751 shares during the last quarter. Finally, Bell & Brown Wealth Advisors LLC purchased a new position in Starbucks in the 4th quarter valued at about $4,048,000. Institutional investors and hedge funds own 72.29% of the company’s shares.

Analyst upgrades and downgrades

Several equities analysts have weighed in on the stock. Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Goldman Sachs Group began coverage on shares of Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 price target for the company. Wedbush reiterated a “neutral” rating and set a $80.00 target price on shares of Starbucks in a report on Tuesday, August 13th. Jefferies Financial Group cut their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Finally, Baird RW upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Moderate Buy” and an average target price of $100.08, according to MarketBeat.com.

Get the latest research report on Starbucks

Starbucks stock down 0.9%

Shares of SBUX opened at $96.05 on Monday. The stock has a market cap 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. it has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The company’s 50-day moving average price is $86.67, and its two-hundred-day moving average price is $83.99.

Starbucks (NASDAQ:SBUX – Get Your Free Report ) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks revenue was down 0.6% compared to the same quarter last year. During the same period in the previous year, the company posted earnings of $1.00 per share. On average, equities analysts expect that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insider buying and selling at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. 1.98% of shares are currently owned by corporate insiders.

Starbucks Company Profile

(Free report)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, distributor and distributor of coffee worldwide. The company operates through three segments: North America, International and Channel Development. Its stores offer coffee and tea beverages, whole roasted beans and ground coffee, unique products and ready-to-drink beverages; and various food products such as pastries, breakfast sandwiches and lunch items.

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