Texan Capital Management Lowers stake in Starbucks Corporation (SBUX)

Starbucks Corporation (SBUX) : Texan Capital Management reduced its stake in Starbucks Corporation by 0.84% during the most recent quarter end. The investment management company now holds a total of 34,381 shares of Starbucks Corporation which is valued at $1,923,273 after selling 291 shares in Starbucks Corporation , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Starbucks Corporation makes up approximately 0.87% of Texan Capital Management’s portfolio.

Other Hedge Funds, Including , Alley Co boosted its stake in SBUX in the latest quarter, The investment management firm added 1,390 additional shares and now holds a total of 55,615 shares of Starbucks Corporation which is valued at $3,228,451. Starbucks Corporation makes up approx 1.43% of Alley Co’s portfolio.Atalanta Sosnoff Capital boosted its stake in SBUX in the latest quarter, The investment management firm added 1,627 additional shares and now holds a total of 338,991 shares of Starbucks Corporation which is valued at $19,610,629. Starbucks Corporation makes up approx 0.64% of Atalanta Sosnoff Capital’s portfolio.Mercer Capital Advisers boosted its stake in SBUX in the latest quarter, The investment management firm added 6,765 additional shares and now holds a total of 11,335 shares of Starbucks Corporation which is valued at $656,297. Starbucks Corporation makes up approx 0.52% of Mercer Capital Advisers’s portfolio.Cibc World Markets reduced its stake in SBUX by selling 20,861 shares or 4.57% in the most recent quarter. The Hedge Fund company now holds 435,726 shares of SBUX which is valued at $25,228,535. Starbucks Corporation makes up approx 0.11% of Cibc World Markets’s portfolio.

Starbucks Corporation closed down -0.54 points or -0.97% at $55.36 with 91,29,307 shares getting traded on Monday. Post opening the session at $55.97, the shares hit an intraday low of $55.17 and an intraday high of $55.99 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

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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