Starbucks Co. (SBUX) Holdings Reduced by Gerber Kawasaki Wealth & Investment Management

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Gerber Kawasaki Wealth & Investment Management reduced its position in Starbucks Co. (NASDAQ:SBUX) by 25.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,039 shares of the coffee company’s stock after selling 6,005 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Starbucks were worth $1,002,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Starbucks by 6.6% in the 1st quarter. Principal Financial Group Inc. now owns 5,043,587 shares of the coffee company’s stock valued at $291,975,000 after acquiring an additional 312,720 shares during the period. Rathbone Brothers plc increased its position in Starbucks by 38.6% in the 2nd quarter. Rathbone Brothers plc now owns 9,954 shares of the coffee company’s stock valued at $486,000 after acquiring an additional 2,772 shares during the period. Viking Fund Management LLC increased its position in Starbucks by 17.4% in the 2nd quarter. Viking Fund Management LLC now owns 27,000 shares of the coffee company’s stock valued at $1,319,000 after acquiring an additional 4,000 shares during the period. Smithfield Trust Co. increased its position in Starbucks by 40.8% in the 2nd quarter. Smithfield Trust Co. now owns 5,211 shares of the coffee company’s stock valued at $255,000 after acquiring an additional 1,509 shares during the period. Finally, Signature Wealth Management Group increased its position in Starbucks by 14.9% during the 2nd quarter. Signature Wealth Management Group now owns 7,574 shares of the coffee company’s stock worth $370,000 after purchasing an additional 985 shares during the period. 71.41% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Myron E. Ullman III sold 99,166 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $55.05, for a total value of $5,459,088.30. Following the sale, the director now owns 29,000 shares of the company’s stock, valued at approximately $1,596,450. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Javier G. Teruel sold 166,666 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $52.70, for a total value of $8,783,298.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 280,832 shares of company stock worth $15,052,087. 3.48% of the stock is owned by corporate insiders.

SBUX opened at $67.41 on Wednesday. The company has a market capitalization of $91.62 billion, a P/E ratio of 28.06, a PEG ratio of 1.90 and a beta of 0.48. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.95 and a current ratio of 2.20. Starbucks Co. has a 1-year low of $47.37 and a 1-year high of $68.98.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, November 1st. The coffee company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $6.28 billion. Starbucks had a return on equity of 86.33% and a net margin of 18.28%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS. As a group, equities research analysts forecast that Starbucks Co. will post 2.65 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Wednesday, November 14th. Starbucks’s payout ratio is currently 59.50%.

Several equities analysts have issued reports on SBUX shares. Wells Fargo & Co boosted their target price on Starbucks from $60.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 17th. Zacks Investment Research cut Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. KeyCorp reiterated a “buy” rating on shares of Starbucks in a research report on Thursday, October 4th. BidaskClub upgraded Starbucks from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Finally, ValuEngine upgraded Starbucks from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Starbucks presently has an average rating of “Buy” and an average target price of $64.66.

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Starbucks 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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Read More: How is Preferred Stock Different from Common Stock?

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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