AMI Asset Management Corp Sells 24,734 Shares of Starbucks Corporation (SBUX)
AMI Asset Management Corp cut its holdings in Starbucks Corporation (NASDAQ:SBUX) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 573,179 shares of the coffee company’s stock after selling 24,734 shares during the quarter. Starbucks Corporation comprises 2.4% of AMI Asset Management Corp’s portfolio, making the stock its 14th largest position. AMI Asset Management Corp’s holdings in Starbucks Corporation were worth $33,422,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in SBUX. Vigilant Capital Management LLC grew its holdings in Starbucks Corporation by 0.5% during the 2nd quarter. Vigilant Capital Management LLC now owns 143,285 shares of the coffee company’s stock worth $8,355,000 after acquiring an additional 745 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA raised its position in shares of Starbucks Corporation by 11.2% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 21,591 shares of the coffee company’s stock valued at $1,259,000 after acquiring an additional 2,179 shares during the last quarter. Ledyard National Bank raised its position in shares of Starbucks Corporation by 0.8% during the 2nd quarter. Ledyard National Bank now owns 124,739 shares of the coffee company’s stock valued at $7,273,000 after acquiring an additional 1,005 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Starbucks Corporation by 516.2% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 239,184 shares of the coffee company’s stock valued at $13,947,000 after acquiring an additional 200,370 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in shares of Starbucks Corporation by 3.3% during the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 10,971 shares of the coffee company’s stock valued at $640,000 after acquiring an additional 349 shares during the last quarter. 70.83% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were acquired at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the purchase, the director now owns 18,000 shares of the company’s stock, valued at approximately $995,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Culver sold 64,776 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were 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 owns 390,341 shares in the company, valued at $20,898,857.14. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
Starbucks Corporation (SBUX) traded up 0.69% during midday trading on Tuesday, reaching $54.18. The company had a trading volume of 2,707,696 shares. The stock’s 50 day moving average is $54.21 and its 200 day moving average is $57.82. The firm has a market capitalization of $78.23 billion, a price-to-earnings ratio of 27.35 and a beta of 0.78. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same period in the previous year, the company posted $0.49 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. Equities research analysts expect that Starbucks Corporation will post $2.06 earnings per share for the current year.
A number of research firms recently commented on SBUX. Cowen and Company reiterated a “buy” rating and issued a $63.00 price objective on shares of Starbucks Corporation in a report on Friday, September 1st. Zacks Investment Research upgraded Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. UBS AG set a $67.00 target price on Starbucks Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. Jefferies Group LLC restated an “average” rating and set a $65.00 target price on shares of Starbucks Corporation in a research report on Friday, July 28th. Finally, Guggenheim lowered Starbucks Corporation from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Thirteen analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $64.33.
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.
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