Seven Bridges Advisors LLC Takes Position in Starbucks Corporation (SBUX)

Seven Bridges Advisors LLC acquired a new stake in Starbucks Corporation (NASDAQ:SBUX) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,664 shares of the coffee company’s stock, valued at approximately $272,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Advisor Partners LLC grew its stake in shares of Starbucks Corporation by 19.6% in the 2nd quarter. Advisor Partners LLC now owns 24,599 shares of the coffee company’s stock valued at $1,434,000 after purchasing an additional 4,031 shares during the period. Alley Co LLC grew its stake in shares of Starbucks Corporation by 2.7% in the 2nd quarter. Alley Co LLC now owns 61,227 shares of the coffee company’s stock valued at $3,570,000 after purchasing an additional 1,626 shares during the period. Pictet Asset Management Ltd. grew its stake in shares of Starbucks Corporation by 11.7% in the 2nd quarter. Pictet Asset Management Ltd. now owns 1,693,898 shares of the coffee company’s stock valued at $107,749,000 after purchasing an additional 177,289 shares during the period. TD Asset Management Inc. grew its stake in shares of Starbucks Corporation by 44.0% in the 2nd quarter. TD Asset Management Inc. now owns 1,116,077 shares of the coffee company’s stock valued at $65,078,000 after purchasing an additional 341,162 shares during the period. Finally, Norris Perne & French LLP MI grew its stake in shares of Starbucks Corporation by 10.8% in the 2nd quarter. Norris Perne & French LLP MI now owns 125,730 shares of the coffee company’s stock valued at $7,332,000 after purchasing an additional 12,236 shares during the period. Institutional investors own 70.83% of the company’s stock.

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Shares of Starbucks Corporation (NASDAQ SBUX) opened at 55.17 on Friday. The company has a market cap of $79.66 billion, a PE ratio of 27.85 and a beta of 0.78. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87. The firm’s 50 day moving average is $54.35 and its 200 day moving average is $57.75.

Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. The firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $0.49 earnings per share. On average, equities analysts predict that Starbucks Corporation will post $2.06 earnings per share for the current year.

In other news, insider John Culver sold 64,776 shares of Starbucks Corporation stock in a transaction on 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 transaction, the insider now owns 390,341 shares in the company, valued at $20,898,857.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Myron E. Ullman III sold 22,966 shares of Starbucks Corporation stock in a transaction on 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 transaction, the director now owns 36,966 shares in the company, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Several research firms have recently weighed in on SBUX. UBS AG set a $70.00 price objective on Starbucks Corporation and gave the company a “buy” rating in a research note on Wednesday, June 28th. Wedbush reiterated a “hold” rating on shares of Starbucks Corporation in a research note on Friday, July 28th. BTIG Research reiterated a “buy” rating and issued a $64.00 price objective on shares of Starbucks Corporation in a research note on Sunday, July 30th. Instinet reiterated a “buy” rating and issued a $67.00 price objective (down from $70.00) on shares of Starbucks Corporation in a research note on Sunday, July 30th. Finally, Stephens reiterated an “equal weight” rating and issued a $52.00 price objective (down from $58.00) on shares of Starbucks Corporation in a research note on Friday, September 29th. They noted that the move was a valuation call. Thirteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. Starbucks Corporation presently has an average rating of “Buy” and an average price target of $64.34.

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.

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

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