Investment Management of Virginia LLC reduced its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,021 shares of the coffee company’s stock after selling 150 shares during the quarter. Investment Management of Virginia LLC’s holdings in Starbucks Corporation were worth $1,226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. State Street Corp increased its holdings in Starbucks Corporation by 2.7% during the 1st 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 in the last quarter. Bank of New York Mellon Corp increased its holdings in Starbucks Corporation by 7.8% during the 1st 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 in the last quarter. Magellan Asset Management Ltd increased its holdings in Starbucks Corporation by 3,809,645.9% during the 1st 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 in the last quarter. Ameriprise Financial Inc. increased its holdings in Starbucks Corporation by 32.9% during the 1st 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 in the last quarter. Finally, Polen Capital Management LLC grew its holdings in shares of Starbucks Corporation by 7.6% during the first quarter. Polen Capital Management LLC now owns 10,464,718 shares of the coffee company’s stock worth $611,035,000 after buying an additional 737,343 shares in the last quarter. Hedge funds and other institutional investors own 70.77% of the company’s stock.

A number of equities research analysts have recently commented on SBUX shares. Jefferies Group LLC reiterated an “average” rating and set a $65.00 price target on shares of Starbucks Corporation in a report on Friday, July 28th. UBS AG set a $70.00 price target on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Wednesday, June 28th. Piper Jaffray Companies reiterated a “buy” rating and set a $70.00 price target on shares of Starbucks Corporation in a report on Friday, July 14th. Mizuho reiterated a “buy” rating and set a $75.00 price target on shares of Starbucks Corporation in a report on Thursday, July 6th. Finally, Instinet reiterated a “buy” rating and set a $67.00 price target (down from $70.00) on shares of Starbucks Corporation in a report on Sunday, July 30th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $64.24.

In other news, insider John Culver sold 64,776 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $53.54, for a total value of $3,468,107.04. Following the completion of the sale, the insider now directly owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 18,000 shares of Starbucks Corporation stock in a transaction dated Friday, August 4th. The stock was acquired at an average cost of $55.30 per share, with a total value of $995,400.00. Following the completion of the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $995,400. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION NOTICE: This article was originally reported by Watch List News and is the sole property of of Watch List News. If you are reading this article on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The correct version of this article can be accessed at https://www.watchlistnews.com/investment-management-of-virginia-llc-sells-150-shares-of-starbucks-corporation-sbux/1646911.html.

Shares of Starbucks Corporation (NASDAQ SBUX) opened at 54.57 on Friday. The company has a market cap of $78.79 billion, a price-to-earnings ratio of 27.55 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 company has a 50 day moving average of $54.69 and a 200-day moving average of $57.61.

Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, meeting 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 during the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the prior year, the business earned $0.49 earnings per share. Starbucks Corporation’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Corporation will post $2.06 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX).

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 Analyst Ratings Network's FREE daily email newsletter.