Riverbridge Partners LLC Sells 13,226 Shares of Starbucks Corporation $SBUX

Riverbridge Partners LLC reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 492,293 shares of the coffee company’s stock after selling 13,226 shares during the period. Riverbridge Partners LLC’s holdings in Starbucks were worth $45,109,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SBUX. Napa Wealth Management bought a new stake in Starbucks during the first quarter valued at $1,435,000. Czech National Bank boosted its stake in Starbucks by 6.2% during the first quarter. Czech National Bank now owns 260,898 shares of the coffee company’s stock valued at $25,591,000 after buying an additional 15,132 shares during the period. Personal CFO Solutions LLC boosted its stake in Starbucks by 125.5% during the first quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company’s stock valued at $908,000 after buying an additional 5,151 shares during the period. First Manhattan CO. LLC. boosted its stake in Starbucks by 33.1% during the first quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company’s stock valued at $43,777,000 after buying an additional 111,015 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Starbucks during the first quarter valued at $998,000. 72.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. UBS Group lifted their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. The Goldman Sachs Group reissued a “neutral” rating and set a $95.00 price objective (up previously from $85.00) on shares of Starbucks in a research note on Thursday, June 12th. Royal Bank Of Canada lifted their price objective on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Wells Fargo & Company raised their price target on Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, TD Securities restated a “hold” rating and set a $90.00 price target on shares of Starbucks in a research report on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

Starbucks Stock Down 1.7%

NASDAQ SBUX opened at $84.27 on Thursday. The stock’s 50-day simple moving average is $88.87 and its two-hundred day simple moving average is $89.27. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The company has a market capitalization of $95.79 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 5.12 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.93 EPS. On average, equities analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.