Candriam Luxembourg S.C.A. Sells 2,872 Shares of Starbucks Corporation (SBUX)
Candriam Luxembourg S.C.A. trimmed its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,507 shares of the coffee company’s stock after selling 2,872 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Starbucks Corporation were worth $9,476,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in SBUX. Jacobi Capital Management LLC increased its position in Starbucks Corporation by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after buying an additional 50 shares during the last quarter. Gradient Investments LLC raised its holdings in Starbucks Corporation by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after buying an additional 46 shares in the last quarter. Sharkey Howes & Javer raised its holdings in Starbucks Corporation by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after buying an additional 150 shares in the last quarter. IHT Wealth Management LLC raised its holdings in Starbucks Corporation by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after buying an additional 187 shares in the last quarter. Finally, TrimTabs Asset Management LLC bought a new position in Starbucks Corporation during the first quarter valued at about $122,000. Institutional investors and hedge funds own 70.83% of the company’s stock.
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Several research firms have recently issued reports on SBUX. 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 raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. UBS AG set a $67.00 price target on Starbucks Corporation and gave the company a “buy” rating in a report on Friday, July 28th. Jefferies Group LLC reissued an “average” rating and issued a $65.00 price target on shares of Starbucks Corporation in a research report on Friday, July 28th. Finally, Guggenheim cut shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a research note on Friday, July 28th. Thirteen research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Starbucks Corporation currently has a consensus rating of “Buy” and an average target price of $64.33.
In related news, Director Jorgen Vig Knudstorp purchased 18,000 shares of Starbucks Corporation stock in a transaction that occurred on Friday, August 4th. The stock was bought at an average price 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the transaction, the director now owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
Starbucks Corporation (NASDAQ SBUX) opened at 53.99 on Wednesday. The firm has a market cap of $77.96 billion, a P/E ratio of 27.25 and a beta of 0.78. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The stock has a 50 day moving average price of $54.24 and a 200-day moving average price of $57.80.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 EPS. Equities research analysts forecast that Starbucks Corporation will post $2.06 EPS for the current year.
Starbucks Corporation Profile
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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