Rainier Investment Management LLC Sells 30,590 Shares of Starbucks Corporation (SBUX)

Rainier Investment Management LLC lessened its position in Starbucks Corporation (NASDAQ:SBUX) by 46.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,020 shares of the coffee company’s stock after selling 30,590 shares during the quarter. Rainier Investment Management LLC’s holdings in Starbucks Corporation were worth $2,042,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Jacobi Capital Management LLC raised its position in Starbucks Corporation by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after buying an additional 50 shares during the last quarter. Gradient Investments LLC raised its position in Starbucks Corporation by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after buying an additional 46 shares during the last quarter. Sharkey Howes & Javer raised its position in Starbucks Corporation by 8.5% in the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after buying an additional 150 shares during the last quarter. IHT Wealth Management LLC raised its position in Starbucks Corporation by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after buying an additional 187 shares during the last quarter. Finally, TrimTabs Asset Management LLC acquired a new stake in Starbucks Corporation in the 1st quarter valued at approximately $122,000. 70.77% of the stock is currently owned by institutional investors and hedge funds.

SBUX has been the topic of a number of recent research reports. Cowen and Company reissued a “buy” rating and issued a $63.00 target price on shares of Starbucks Corporation in a research report on Friday, September 1st. Zacks Investment Research raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Mizuho reissued a “buy” rating and issued a $75.00 target price on shares of Starbucks Corporation in a research report on Friday, September 29th. UBS AG set a $67.00 price target on Starbucks Corporation and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Jefferies Group LLC restated an “average” rating and issued a $65.00 price target on shares of Starbucks Corporation in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Starbucks Corporation presently has an average rating of “Buy” and an average price target of $64.24.

Starbucks Corporation (NASDAQ:SBUX) opened at 55.21 on Thursday. The firm has a 50-day moving average price of $54.67 and a 200 day moving average price of $57.66. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The firm has a market capitalization of $79.72 billion, a PE ratio of 27.87 and a beta of 0.78.

Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, hitting the Zacks’ 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 during the quarter, compared to analyst estimates of $5.76 billion. During the same period last year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts anticipate that Starbucks Corporation will post $2.06 EPS for the current fiscal year.

In other news, insider John Culver sold 64,776 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $53.54, for a total value of $3,468,107.04. Following the completion of the transaction, the insider now directly owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now directly owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

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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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