RMB Capital Management LLC Decreases Stake in Starbucks Co. (NASDAQ:SBUX)

RMB Capital Management LLC reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 0.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 164,663 shares of the coffee company’s stock after selling 821 shares during the quarter. RMB Capital Management LLC’s holdings in Starbucks were worth $10,825,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Boston Private Wealth LLC raised its position in shares of Starbucks by 32.4% in the 4th quarter. Boston Private Wealth LLC now owns 150,917 shares of the coffee company’s stock valued at $13,269,000 after purchasing an additional 36,926 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Starbucks by 3.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 403,978 shares of the coffee company’s stock valued at $35,518,000 after purchasing an additional 13,039 shares during the last quarter. Griffin Asset Management Inc. raised its position in shares of Starbucks by 1.8% in the 4th quarter. Griffin Asset Management Inc. now owns 69,252 shares of the coffee company’s stock valued at $6,089,000 after purchasing an additional 1,215 shares during the last quarter. Sunbelt Securities Inc. raised its position in shares of Starbucks by 2.0% in the 4th quarter. Sunbelt Securities Inc. now owns 19,699 shares of the coffee company’s stock valued at $1,704,000 after purchasing an additional 395 shares during the last quarter. Finally, Altfest L J & Co. Inc. raised its position in shares of Starbucks by 63.4% in the 1st quarter. Altfest L J & Co. Inc. now owns 6,904 shares of the coffee company’s stock valued at $454,000 after purchasing an additional 2,680 shares during the last quarter. 67.70% of the stock is owned by hedge funds and other institutional investors.

Shares of Starbucks stock traded down $0.43 on Friday, reaching $77.62. 7,580,153 shares of the company were exchanged, compared to its average volume of 11,421,882. Starbucks Co. has a 1-year low of $50.02 and a 1-year high of $99.72. The company has a market cap of $91.19 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 4.57 and a beta of 0.80. The stock’s 50 day moving average price is $73.70 and its 200-day moving average price is $80.77.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 28th. The coffee company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.85 billion. Starbucks had a net margin of 12.71% and a negative return on equity of 50.19%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. On average, equities research analysts expect that Starbucks Co. will post 1.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Thursday, May 7th. Starbucks’s dividend payout ratio (DPR) is 57.95%.

A number of equities analysts have issued reports on SBUX shares. Goldman Sachs Group reduced their price target on shares of Starbucks from $95.00 to $82.00 and set a “buy” rating for the company in a research report on Friday, March 6th. JPMorgan Chase & Co. raised their price target on shares of Starbucks from $65.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Starbucks in a research note on Friday, March 6th. William Blair reaffirmed a “buy” rating on shares of Starbucks in a research note on Wednesday, January 29th. Finally, Oppenheimer dropped their price target on shares of Starbucks from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. One equities research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $81.77.

In related news, Director Myron E. Ullman III sold 4,252 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $74.89, for a total value of $318,432.28. Following the completion of the transaction, the director now directly owns 22,728 shares of the company’s stock, valued at $1,702,099.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jill Walker sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $70.14, for a total value of $140,280.00. The disclosure for this sale can be found here. Insiders sold 10,504 shares of company stock valued at $726,546 over the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

Starbucks Company Profile

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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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