Foundry Partners LLC Sells 6,105 Shares of Starbucks Corporation (SBUX)

Foundry Partners LLC cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 44.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,550 shares of the coffee company’s stock after selling 6,105 shares during the quarter. Foundry Partners LLC’s holdings in Starbucks Corporation were worth $440,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SBUX. State Street Corp lifted its holdings in Starbucks Corporation by 2.7% in the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after acquiring an additional 1,598,669 shares during the period. Bank of New York Mellon Corp lifted its holdings in Starbucks Corporation by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock valued at $1,796,675,000 after acquiring an additional 2,234,324 shares during the period. Magellan Asset Management Ltd lifted its holdings in Starbucks Corporation by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after acquiring an additional 18,667,265 shares during the period. Ameriprise Financial Inc. lifted its holdings in Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after acquiring an additional 3,511,080 shares during the period. Finally, Polen Capital Management LLC lifted its holdings in Starbucks Corporation by 7.6% in the first quarter. Polen Capital Management LLC now owns 10,464,718 shares of the coffee company’s stock valued at $611,035,000 after acquiring an additional 737,343 shares during the period. 70.82% of the stock is owned by hedge funds and other institutional investors.

In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $53.41, for a total value of $1,226,614.06. Following the transaction, the director now directly owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was purchased at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the transaction, the director now owns 18,000 shares in the company, valued at $995,400. The disclosure for this purchase can be found here. Corporate insiders own 3.40% of the company’s stock.

SBUX has been the subject of a number of recent analyst reports. Jefferies Group LLC reissued an “average” rating and issued a $65.00 target price on shares of Starbucks Corporation in a report on Friday, July 28th. UBS AG set a $70.00 target price on Starbucks Corporation and gave the company a “buy” rating in a report on Wednesday, June 28th. BidaskClub downgraded Starbucks Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Piper Jaffray Companies reissued a “buy” rating and issued a $70.00 target price on shares of Starbucks Corporation in a report on Friday, July 14th. Finally, Mizuho reissued a “buy” rating and issued a $75.00 target price on shares of Starbucks Corporation in a report on Thursday, July 6th. Thirteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. Starbucks Corporation has a consensus rating of “Buy” and an average price target of $64.24.

Shares of Starbucks Corporation (NASDAQ SBUX) opened at 55.64 on Thursday. The stock has a market cap of $80.34 billion, a PE ratio of 28.09 and a beta of 0.78. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The stock’s 50 day moving average price is $54.52 and its 200-day moving average price is $57.75.

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

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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.

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

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