Gemmer Asset Management LLC Has $9.61 Million Position in Starbucks Co. (NASDAQ:SBUX)
Gemmer Asset Management LLC boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 114,599 shares of the coffee company’s stock after purchasing an additional 995 shares during the period. Starbucks comprises about 2.6% of Gemmer Asset Management LLC’s investment portfolio, making the stock its 14th biggest position. Gemmer Asset Management LLC’s holdings in Starbucks were worth $9,607,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Starbucks by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,100,583 shares of the coffee company’s stock worth $264,063,000 after buying an additional 20,719 shares during the last quarter. Oakworth Capital Inc. boosted its stake in shares of Starbucks by 96.7% in the fourth quarter. Oakworth Capital Inc. now owns 3,312 shares of the coffee company’s stock worth $213,000 after buying an additional 1,628 shares during the last quarter. Natixis Advisors L.P. boosted its stake in shares of Starbucks by 0.3% in the fourth quarter. Natixis Advisors L.P. now owns 1,292,498 shares of the coffee company’s stock worth $83,236,000 after buying an additional 4,439 shares during the last quarter. Roundview Capital LLC purchased a new stake in shares of Starbucks in the fourth quarter worth about $237,000. Finally, Stifel Financial Corp boosted its stake in shares of Starbucks by 3.6% in the fourth quarter. Stifel Financial Corp now owns 1,389,661 shares of the coffee company’s stock worth $89,466,000 after buying an additional 47,809 shares during the last quarter. 71.63% of the stock is owned by hedge funds and other institutional investors.
In other Starbucks news, Director Myron E. Ullman III sold 9,973 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $76.12, for a total transaction of $759,144.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lucy Lee Helm sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $83.00, for a total value of $830,000.00. Following the transaction, the executive vice president now directly owns 113,455 shares of the company’s stock, valued at approximately $9,416,765. The disclosure for this sale can be found here. Insiders have sold 93,883 shares of company stock valued at $7,422,903 in the last three months. Insiders own 3.98% of the company’s stock.
NASDAQ SBUX traded up $8.13 during trading hours on Friday, reaching $99.11. The company’s stock had a trading volume of 20,837,613 shares, compared to its average volume of 6,178,382. The stock has a market capitalization of $110.19 billion, a price-to-earnings ratio of 33.08, a price-to-earnings-growth ratio of 2.54 and a beta of 0.55. Starbucks Co. has a 1-year low of $50.21 and a 1-year high of $99.72. The firm has a 50-day moving average price of $86.53.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, July 25th. The coffee company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Starbucks had a negative return on equity of 154.96% and a net margin of 13.63%. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. As a group, analysts anticipate that Starbucks Co. will post 2.79 earnings per share for the current year.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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