Texan Capital Management increased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 29.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,986 shares of the coffee company’s stock after acquiring an additional 11,298 shares during the quarter. Starbucks Corporation comprises approximately 2.0% of Texan Capital Management’s holdings, making the stock its 17th largest holding. Texan Capital Management’s holdings in Starbucks Corporation were worth $2,915,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SBUX. CGOV Asset Management increased its position in Starbucks Corporation by 5.1% during the first quarter. CGOV Asset Management now owns 1,143,123 shares of the coffee company’s stock worth $88,920,000 after acquiring an additional 55,405 shares during the period. Waldron LP increased its position in Starbucks Corporation by 44.8% during the first quarter. Waldron LP now owns 18,119 shares of the coffee company’s stock worth $1,057,000 after acquiring an additional 5,604 shares during the period. Physicians Financial Services Inc. increased its position in Starbucks Corporation by 5.6% during the first quarter. Physicians Financial Services Inc. now owns 7,751 shares of the coffee company’s stock worth $453,000 after acquiring an additional 408 shares during the period. Narwhal Capital Management increased its position in Starbucks Corporation by 62.9% during the first quarter. Narwhal Capital Management now owns 12,945 shares of the coffee company’s stock worth $756,000 after acquiring an additional 5,000 shares during the period. Finally, Everett Harris & Co. CA increased its position in Starbucks Corporation by 110.8% during the first quarter. Everett Harris & Co. CA now owns 235,782 shares of the coffee company’s stock worth $13,767,000 after acquiring an additional 123,912 shares during the period. 70.82% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Corporation (NASDAQ:SBUX) traded down 1.45% on Friday, reaching $53.71. 11,944,370 shares of the company’s stock were exchanged. The company has a market cap of $77.55 billion, a price-to-earnings ratio of 27.11 and a beta of 0.78. The stock’s 50 day moving average is $54.19 and its 200 day moving average is $57.85. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87.

Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings results 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. The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations 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 previous year, the business posted $0.49 earnings per share. On average, equities analysts anticipate that Starbucks Corporation will post $2.06 earnings per share for the current year.

In other news, Director Jorgen Vig Knudstorp purchased 18,000 shares of Starbucks Corporation stock in a transaction dated Friday, August 4th. The shares were bought at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the acquisition, the director now owns 18,000 shares in the company, valued at approximately $995,400. The acquisition 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 business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $53.41, for a total value of $1,226,614.06. Following the sale, the director now owns 36,966 shares in the company, valued at $1,974,354.06. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

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SBUX has been the topic of a number of research reports. Sanford C. Bernstein reaffirmed a “buy” rating and set a $67.00 target price on shares of Starbucks Corporation in a research report on Monday, June 12th. Cowen and Company reaffirmed an “outperform” rating and set a $66.00 target price on shares of Starbucks Corporation in a research report on Friday, July 21st. UBS AG set a $70.00 target price on shares of Starbucks Corporation and gave the stock a “buy” rating in a research report on Wednesday, June 28th. Mizuho reaffirmed a “buy” rating and set a $75.00 target price on shares of Starbucks Corporation in a research report on Friday. Finally, Stephens reaffirmed a “hold” rating and set a $52.00 target price (down previously from $58.00) on shares of Starbucks Corporation in a research report on Friday. They noted that the move was a valuation call. Thirteen analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Starbucks Corporation has a consensus rating of “Buy” and an average target price of $64.33.

Starbucks Corporation Company 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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