Pekin Singer Strauss Asset Management IL Sells 1,000 Shares of Starbucks Corporation (SBUX)

Pekin Singer Strauss Asset Management IL lowered its position in Starbucks Corporation (NASDAQ:SBUX) by 4.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,250 shares of the coffee company’s stock after selling 1,000 shares during the period. Pekin Singer Strauss Asset Management IL’s holdings in Starbucks Corporation were worth $1,414,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Montag & Caldwell LLC boosted its position in Starbucks Corporation by 3.2% in the second quarter. Montag & Caldwell LLC now owns 1,994,879 shares of the coffee company’s stock valued at $116,322,000 after buying an additional 62,288 shares during the last quarter. Traynor Capital Management Inc. boosted its position in Starbucks Corporation by 7.2% in the second quarter. Traynor Capital Management Inc. now owns 12,782 shares of the coffee company’s stock valued at $760,000 after buying an additional 863 shares during the last quarter. Rhumbline Advisers boosted its position in Starbucks Corporation by 1.2% in the second quarter. Rhumbline Advisers now owns 2,412,309 shares of the coffee company’s stock valued at $140,662,000 after buying an additional 29,293 shares during the last quarter. BTC Capital Management Inc. boosted its position in Starbucks Corporation by 1.4% in the second quarter. BTC Capital Management Inc. now owns 11,737 shares of the coffee company’s stock valued at $683,000 after buying an additional 163 shares during the last quarter. Finally, Cumberland Partners Ltd purchased a new stake in Starbucks Corporation in the second quarter valued at approximately $7,026,000. Hedge funds and other institutional investors own 70.82% of the company’s stock.

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Shares of Starbucks Corporation (NASDAQ:SBUX) opened at 55.97 on Friday. The firm has a market capitalization of $80.82 billion, a P/E ratio of 28.25 and a beta of 0.78. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87. The firm has a 50 day moving average price of $54.57 and a 200-day moving average price of $57.73.

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

A number of equities research analysts recently commented on the company. UBS AG set a $70.00 target price on Starbucks Corporation and gave the company a “buy” rating in a research report on Wednesday, June 28th. BMO Capital Markets lowered Starbucks Corporation from an “outperform” rating to a “market perform” rating and upped their target price for the company from $54.52 to $64.00 in a research report on Wednesday, August 9th. Stifel Nicolaus assumed coverage on Starbucks Corporation in a research report on Tuesday, October 3rd. They issued a “hold” rating and a $58.00 target price on the stock. Cowen and Company reiterated an “outperform” rating and issued a $62.00 target price (down previously from $63.00) on shares of Starbucks Corporation in a research report on Tuesday. Finally, Wedbush reiterated a “hold” rating on shares of Starbucks Corporation in a research report on Friday, July 28th. Thirteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $64.24.

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

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)

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