NewFocus Financial Group LLC lowered its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 13.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,324 shares of the coffee company’s stock after selling 1,000 shares during the quarter. NewFocus Financial Group LLC’s holdings in Starbucks Corporation were worth $369,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. State Street Corp raised its position in shares of Starbucks Corporation by 2.7% during the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after buying an additional 1,598,669 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Starbucks Corporation by 7.8% during the first 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 buying an additional 2,234,324 shares during the last quarter. Magellan Asset Management Ltd raised its position in shares of Starbucks Corporation by 3,809,645.9% during the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after buying an additional 18,667,265 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Starbucks Corporation by 32.9% during the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after buying an additional 3,511,080 shares during the last quarter. Finally, Polen Capital Management LLC raised its position 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 valued at $611,035,000 after buying an additional 737,343 shares during the last quarter. 70.83% of the stock is currently owned by institutional investors and hedge funds.

Shares of Starbucks Corporation (SBUX) opened at 53.93 on Thursday. The stock has a market capitalization of $77.87 billion, a price-to-earnings ratio of 27.22 and a beta of 0.78. The company has a 50-day moving average of $54.26 and a 200-day moving average of $57.77. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87.

Starbucks Corporation (NASDAQ:SBUX) last announced its earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates 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 last year, the business posted $0.49 EPS. Starbucks Corporation’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts expect that Starbucks Corporation will post $2.06 EPS for the current fiscal year.

In other news, Director Jorgen Vig Knudstorp bought 18,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was bought at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the acquisition, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $995,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the transaction, the director now owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

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Several equities research analysts have recently issued reports on the stock. UBS AG set a $70.00 price objective on shares of Starbucks Corporation and gave the company a “buy” rating in a research report on Wednesday, June 28th. BMO Capital Markets cut shares of Starbucks Corporation from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $54.52 to $64.00 in a research report on Wednesday, August 9th. Stifel Nicolaus assumed coverage on shares of Starbucks Corporation in a research report on Tuesday. They set a “hold” rating and a $58.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and set a $62.00 price objective on shares of Starbucks Corporation in a research report on Wednesday. Finally, Wedbush reiterated a “hold” rating on shares of Starbucks Corporation in a research report on Friday, July 28th. Thirteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $64.34.

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

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