SignalPoint Asset Management LLC boosted its position in Starbucks Corporation (NASDAQ:SBUX) by 0.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 22,840 shares of the coffee company’s stock after purchasing an additional 67 shares during the period. SignalPoint Asset Management LLC’s holdings in Starbucks Corporation were worth $1,332,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SBUX. Appropriate Balance Financial Services Inc. grew its position in shares of Starbucks Corporation by 1.6% during the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock valued at $14,396,000 after acquiring an additional 13 shares during the period. Jacobi Capital Management LLC grew its position in shares of Starbucks Corporation by 2.7% during the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after acquiring an additional 50 shares during the period. Gradient Investments LLC grew its position in shares of Starbucks Corporation by 2.5% during the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after acquiring an additional 46 shares during the period. Sharkey Howes & Javer grew its position in shares of Starbucks Corporation by 8.5% during the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after acquiring an additional 150 shares during the period. Finally, IHT Wealth Management LLC grew its position in shares of Starbucks Corporation by 10.2% during the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after acquiring an additional 187 shares during the period. 70.83% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently weighed in on SBUX shares. Cowen and Company reissued a “buy” rating and set a $63.00 target price on shares of Starbucks Corporation in a research report on Friday, September 1st. Zacks Investment Research raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. UBS AG set a $67.00 target price on shares of Starbucks Corporation and gave the company a “buy” rating in a research report on Friday, July 28th. Jefferies Group LLC reissued 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 downgraded shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Thirteen equities research 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’s stock. The company presently has a consensus rating of “Buy” and an average price target of $64.34.

Shares of Starbucks Corporation (SBUX) opened at 55.17 on Friday. The stock has a market cap of $79.66 billion, a PE ratio of 27.85 and a beta of 0.78. The stock’s 50 day moving average is $54.35 and its 200 day moving average is $57.75. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87.

Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. Equities research analysts forecast that Starbucks Corporation will post $2.06 earnings per share for the current year.

In other news, Director Myron E. Ullman III sold 22,966 shares of the business’s stock in a transaction on 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 transaction was disclosed in a legal 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 on Friday, September 8th. The stock was sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the transaction, the insider now directly owns 390,341 shares in the company, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

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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.

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

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