Ariel Capital Advisors buys $2,693,870 stake in Starbucks Corporation (SBUX)

Starbucks Corporation (SBUX) : Ariel Capital Advisors scooped up 2,984 additional shares in Starbucks Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 47,840 shares of Starbucks Corporation which is valued at $2,693,870.Starbucks Corporation makes up approximately 2.35% of Ariel Capital Advisors’s portfolio.

Other Hedge Funds, Including , Smith Asset Management Group Lp reduced its stake in SBUX by selling 8,161 shares or 1.56% in the most recent quarter. The Hedge Fund company now holds 516,614 shares of SBUX which is valued at $29,090,534. Starbucks Corporation makes up approx 0.88% of Smith Asset Management Group Lp’s portfolio.Trust Co Of Vermont boosted its stake in SBUX in the latest quarter, The investment management firm added 764 additional shares and now holds a total of 56,441 shares of Starbucks Corporation which is valued at $3,173,677. Starbucks Corporation makes up approx 0.44% of Trust Co Of Vermont’s portfolio. Longer Investments sold out all of its stake in SBUX during the most recent quarter. The investment firm sold 28,172 shares of SBUX which is valued $1,584,112. Parsons Capital Management Incri sold out all of its stake in SBUX during the most recent quarter. The investment firm sold 4,040 shares of SBUX which is valued $227,169.Argus Investors’ Counsel reduced its stake in SBUX by selling 6,000 shares or 7.19% in the most recent quarter. The Hedge Fund company now holds 77,450 shares of SBUX which is valued at $4,355,014. Starbucks Corporation makes up approx 1.80% of Argus Investors’ Counsel’s portfolio.

Starbucks Corporation opened for trading at $56.85 and hit $57.6 on the upside on Tuesday, eventually ending the session at $57.49, with a gain of 1.50% or 0.85 points. The heightened volatility saw the trading volume jump to 79,31,185 shares. Company has a market cap of $84,217 M.

On the company’s financial health, Starbucks Corporation reported $0.39 EPS for the quarter, based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus estimate of $0.39. The company had revenue of $4993.00 million for the quarter, compared to analysts expectations of $5027.03 million. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on Starbucks Corporation. Starbucks Corporation was Resumed by Credit Agricole to “Buy” on Apr 13, 2016. Shares were Downgraded by Deutsche Bank on Apr 12, 2016 to ” Hold” and Lowered the Price Target to $ 64 from a previous price target of $70 .Starbucks Corporation was Resumed by Stifel to “Hold” on Mar 18, 2016.

Starbucks Corporation is the roaster marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells along with coffee tea and other beverages and a range of fresh food items through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels such as licensed stores grocery and national foodservice accounts. It operates through four segment: Americas which includes the United States Canada and Latin America; Europe Middle East and Africa (EMEA); China/Asia Pacific (CAP) and Channel Development. In addition to its Starbucks Coffee brand it also sells goods and services under the brands including Teavana Tazo Seattle’s Best Coffee Evolution Fresh La Boulange and Ethos. Its Americas EMEA and CAP segments include both Company-operated and licensed stores. The Americas and EMEA segments include certain foodservice accounts primarily in Canada and the United Kingdom.

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