Starbucks Co. (NASDAQ:SBUX) Position Lessened by HHR Asset Management LLC

HHR Asset Management LLC reduced its position in Starbucks Co. (NASDAQ:SBUXGet Rating) by 13.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 280,020 shares of the coffee company’s stock after selling 43,123 shares during the period. Starbucks accounts for approximately 4.6% of HHR Asset Management LLC’s holdings, making the stock its 10th biggest holding. HHR Asset Management LLC’s holdings in Starbucks were worth $25,474,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SBUX. Bouvel Investment Partners LLC grew its holdings in shares of Starbucks by 0.8% during the fourth quarter. Bouvel Investment Partners LLC now owns 22,633 shares of the coffee company’s stock valued at $2,647,000 after purchasing an additional 179 shares during the last quarter. United Asset Strategies Inc. bought a new position in shares of Starbucks during the fourth quarter valued at approximately $515,000. Cim LLC boosted its position in shares of Starbucks by 11.6% during the first quarter. Cim LLC now owns 4,036 shares of the coffee company’s stock worth $326,000 after buying an additional 420 shares during the period. Whittier Trust Co. boosted its position in shares of Starbucks by 5.0% during the fourth quarter. Whittier Trust Co. now owns 285,124 shares of the coffee company’s stock worth $33,350,000 after buying an additional 13,493 shares during the period. Finally, Greystone Financial Group LLC boosted its position in shares of Starbucks by 30.5% during the fourth quarter. Greystone Financial Group LLC now owns 78,548 shares of the coffee company’s stock worth $9,188,000 after buying an additional 18,364 shares during the period. 69.21% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have weighed in on SBUX shares. JPMorgan Chase & Co. upgraded Starbucks from a “neutral” rating to an “overweight” rating and set a $101.00 target price for the company in a research report on Wednesday, March 16th. Cowen cut their target price on Starbucks from $115.00 to $94.00 in a research report on Wednesday, May 4th. TheStreet downgraded Starbucks from a “b-” rating to a “c+” rating in a research report on Friday, April 22nd. Barclays cut their target price on Starbucks from $108.00 to $94.00 in a research report on Wednesday, May 4th. Finally, Credit Suisse Group dropped their price target on Starbucks from $122.00 to $103.00 in a report on Wednesday, May 4th. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $102.72.

Shares of NASDAQ SBUX opened at $73.30 on Thursday. The company’s fifty day moving average is $75.53 and its 200-day moving average is $89.88. The stock has a market cap of $84.07 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 2.15 and a beta of 0.97. Starbucks Co. has a twelve month low of $68.39 and a twelve month high of $126.32.

Starbucks (NASDAQ:SBUXGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The coffee company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Starbucks had a negative return on equity of 53.43% and a net margin of 14.07%. The firm had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.60 billion. During the same period in the prior year, the business earned $0.62 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, analysts forecast that Starbucks Co. will post 2.89 EPS for the current fiscal year.

In other Starbucks news, CEO Howard D. Schultz purchased 72,500 shares of the stock in a transaction on Thursday, May 12th. The shares were purchased at an average cost of $68.85 per share, for a total transaction of $4,991,625.00. Following the purchase, the chief executive officer now owns 19,606,960 shares of the company’s stock, valued at $1,349,939,196. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Howard D. Schultz acquired 137,500 shares of the stock in a transaction dated Tuesday, May 10th. The shares were purchased at an average price of $72.67 per share, for a total transaction of $9,992,125.00. Following the completion of the purchase, the chief executive officer now directly owns 19,534,460 shares in the company, valued at $1,419,569,208.20. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company’s stock.

About Starbucks (Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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