Starbucks Co. (NASDAQ:SBUX) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 31.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,903 shares of the coffee company’s stock after selling 21,902 shares during the period. Great Lakes Advisors LLC’s holdings in Starbucks were worth $5,356,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Magellan Asset Management Ltd boosted its position in shares of Starbucks by 1.4% in the first quarter. Magellan Asset Management Ltd now owns 30,087,626 shares of the coffee company’s stock worth $3,287,675,000 after buying an additional 416,103 shares during the period. Geode Capital Management LLC boosted its position in shares of Starbucks by 2.3% in the first quarter. Geode Capital Management LLC now owns 19,158,097 shares of the coffee company’s stock worth $2,087,833,000 after buying an additional 437,321 shares during the period. Loomis Sayles & Co. L P boosted its position in Starbucks by 0.8% during the first quarter. Loomis Sayles & Co. L P now owns 14,089,525 shares of the coffee company’s stock valued at $1,539,562,000 after purchasing an additional 106,466 shares during the last quarter. Polen Capital Management LLC boosted its position in Starbucks by 1.8% during the first quarter. Polen Capital Management LLC now owns 14,048,204 shares of the coffee company’s stock valued at $1,535,047,000 after purchasing an additional 245,298 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Starbucks by 121.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,585,346 shares of the coffee company’s stock valued at $1,265,931,000 after purchasing an additional 6,350,284 shares during the last quarter. 68.27% of the stock is owned by institutional investors and hedge funds.

SBUX has been the subject of a number of research reports. Stifel Nicolaus reduced their price objective on Starbucks from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, September 20th. TheStreet raised Starbucks from a “c” rating to a “b-” rating in a research report on Tuesday, July 27th. Wells Fargo & Company initiated coverage on Starbucks in a research report on Sunday, June 20th. They set a “buy” rating for the company. Jefferies Financial Group lifted their price objective on Starbucks from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Finally, Royal Bank of Canada lifted their price objective on Starbucks from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Starbucks currently has an average rating of “Buy” and an average price target of $126.37.

Shares of SBUX opened at $114.11 on Friday. Starbucks Co. has a 12-month low of $82.22 and a 12-month high of $126.32. The firm has a market capitalization of $134.55 billion, a price-to-earnings ratio of 47.74, a P/E/G ratio of 3.06 and a beta of 0.88. The stock’s 50-day moving average price is $117.45 and its 200 day moving average price is $114.32.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Monday, July 26th. The coffee company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.23. Starbucks had a negative return on equity of 43.16% and a net margin of 10.43%. The firm had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.26 billion. During the same period in the previous year, the company posted ($0.46) earnings per share. The company’s quarterly revenue was up 77.6% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Co. will post 3.25 earnings per share for the current fiscal year.

In other Starbucks news, CEO Kevin R. Johnson sold 359,177 shares of Starbucks stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $122.81, for a total transaction of $44,110,527.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO John Culver sold 148,619 shares of Starbucks stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $119.00, for a total value of $17,685,661.00. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.

About Starbucks

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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