Cadinha & Co. LLC Sells 350 Shares of Starbucks Corporation (SBUX)

Cadinha & Co. LLC cut its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,096 shares of the coffee company’s stock after selling 350 shares during the period. Cadinha & Co. LLC’s holdings in Starbucks Corporation were worth $2,688,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SBUX. CGOV Asset Management increased its stake in Starbucks Corporation by 5.1% during the first quarter. CGOV Asset Management now owns 1,143,123 shares of the coffee company’s stock worth $88,920,000 after purchasing an additional 55,405 shares during the period. Waldron LP increased its stake in Starbucks Corporation by 44.8% during the first quarter. Waldron LP now owns 18,119 shares of the coffee company’s stock worth $1,057,000 after purchasing an additional 5,604 shares during the period. Wetherby Asset Management Inc. increased its stake in Starbucks Corporation by 8.6% during the first quarter. Wetherby Asset Management Inc. now owns 32,378 shares of the coffee company’s stock worth $1,890,000 after purchasing an additional 2,574 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its stake in Starbucks Corporation by 4.1% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 459,376 shares of the coffee company’s stock worth $26,822,000 after purchasing an additional 17,909 shares during the period. Finally, Saratoga Research & Investment Management increased its stake in Starbucks Corporation by 339.8% during the first quarter. Saratoga Research & Investment Management now owns 273,263 shares of the coffee company’s stock worth $15,956,000 after purchasing an additional 211,134 shares during the period. Institutional investors own 70.82% of the company’s stock.

In related news, Director Myron E. Ullman III sold 22,966 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the completion of the transaction, the director now owns 36,966 shares in the company, valued at approximately $1,974,354.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Culver sold 64,776 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the transaction, the insider now owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

SBUX has been the topic of a number of recent research reports. Cowen and Company reiterated a “buy” rating and set a $63.00 price target on shares of Starbucks Corporation in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. UBS AG set a $67.00 target price on shares of Starbucks Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. Jefferies Group LLC restated an “average” rating and set a $65.00 target price on shares of Starbucks Corporation in a research note on Friday, July 28th. Finally, Mizuho restated a “buy” rating and set a $75.00 target price on shares of Starbucks Corporation in a research note on Friday, September 29th. Thirteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $64.24.

Shares of Starbucks Corporation (NASDAQ:SBUX) opened at 55.42 on Wednesday. The company’s 50 day moving average price is $54.48 and its 200 day moving average price is $57.76. The firm has a market capitalization of $80.02 billion, a P/E ratio of 27.98 and a beta of 0.78. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87.

Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts expect that Starbucks Corporation will post $2.06 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Cadinha & Co. LLC Sells 350 Shares of Starbucks Corporation (SBUX)” was reported by Markets Daily and is the sole property of of Markets Daily. If you are accessing this piece on another website, it was stolen and reposted in violation of U.S. and international copyright and trademark legislation. The original version of this piece can be viewed at https://www.themarketsdaily.com/2017/10/11/cadinha-co-llc-sells-350-shares-of-starbucks-corporation-sbux.html.

About Starbucks Corporation

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

Institutional Ownership by Quarter for Starbucks Corporation (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply