Physicians Financial Services Inc. decreased its stake in Starbucks Corporation (NASDAQ:SBUX) by 7.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,148 shares of the coffee company’s stock after selling 603 shares during the quarter. Physicians Financial Services Inc.’s holdings in Starbucks Corporation were worth $417,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in SBUX. Magellan Asset Management Ltd lifted its position in Starbucks Corporation by 3,809,645.9% in the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock worth $1,090,000,000 after buying an additional 18,667,265 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Starbucks Corporation by 32.9% in the 1st quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock worth $827,444,000 after buying an additional 3,511,080 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Starbucks Corporation by 7.8% in the 1st quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock worth $1,796,675,000 after buying an additional 2,234,324 shares in the last quarter. State Street Corp lifted its position in Starbucks Corporation by 2.7% in the 1st quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock worth $3,551,445,000 after buying an additional 1,598,669 shares in the last quarter. Finally, Swiss National Bank lifted its position in Starbucks Corporation by 24.0% in the 1st quarter. Swiss National Bank now owns 5,681,144 shares of the coffee company’s stock worth $331,722,000 after buying an additional 1,099,100 shares in the last quarter. Institutional investors own 70.83% of the company’s stock.

Several research analysts have recently commented on SBUX shares. Cowen and Company restated 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 upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. UBS AG set a $67.00 price target on shares of Starbucks Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. Jefferies Group LLC restated an “average” rating and set a $65.00 price target on shares of Starbucks Corporation in a research note on Friday, July 28th. Finally, Guggenheim lowered shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a research note on Friday, July 28th. Thirteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $64.34.

Starbucks Corporation (SBUX) opened at 54.60 on Friday. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The company’s 50-day moving average is $54.29 and its 200 day moving average is $57.75. The company has a market capitalization of $78.84 billion, a P/E ratio of 27.56 and a beta of 0.78.

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, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the prior year, the business posted $0.49 earnings per share. Starbucks Corporation’s revenue was up 8.1% compared to the same quarter last year. Analysts predict that Starbucks Corporation will post $2.06 EPS for the current year.

In related news, insider John Culver sold 64,776 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the sale, the insider now 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 is available at the SEC website. Also, 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 transaction of $1,226,614.06. Following the sale, the director now directly 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. Corporate insiders own 3.40% of the company’s stock.

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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.

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

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