Magee Thomson Investment Partners Lowers stake in Starbucks Corporation (SBUX)

Starbucks Corporation (SBUX) : Magee Thomson Investment Partners reduced its stake in Starbucks Corporation by 1.96% during the most recent quarter end. The investment management company now holds a total of 290,220 shares of Starbucks Corporation which is valued at $16,739,890 after selling 5,800 shares in Starbucks Corporation , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.Starbucks Corporation makes up approximately 5.10% of Magee Thomson Investment Partners’s portfolio.

Starbucks Corporation closed down -2.96 points or -4.88% at $57.68 with 2,98,36,693 shares getting traded on Friday. Post opening the session at $59.01, the shares hit an intraday low of $57.03 and an intraday high of $59.1 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Lebenthal Holdingsllc boosted its stake in SBUX in the latest quarter, The investment management firm added 21,208 additional shares and now holds a total of 83,893 shares of Starbucks Corporation which is valued at $4,838,948. Starbucks Corporation makes up approx 0.83% of Lebenthal Holdingsllc’s portfolio.Profit Investment Management reduced its stake in SBUX by selling 58,062 shares or 42.14% in the most recent quarter. The Hedge Fund company now holds 79,711 shares of SBUX which is valued at $4,597,730. Starbucks Corporation makes up approx 1.93% of Profit Investment Management’s portfolio.Daiwa Sb Investments Ltd. reduced its stake in SBUX by selling 20,909 shares or 11.19% in the most recent quarter. The Hedge Fund company now holds 165,870 shares of SBUX which is valued at $10,036,794. Starbucks Corporation makes up approx 2.52% of Daiwa Sb Investments Ltd.’s portfolio.First American Bank reduced its stake in SBUX by selling 10,996 shares or 5.02% in the most recent quarter. The Hedge Fund company now holds 208,188 shares of SBUX which is valued at $12,678,649. Starbucks Corporation makes up approx 1.32% of First American Bank’s portfolio.Stillwater Investment Management boosted its stake in SBUX in the latest quarter, The investment management firm added 351 additional shares and now holds a total of 39,786 shares of Starbucks Corporation which is valued at $2,422,967. Starbucks Corporation makes up approx 1.45% of Stillwater Investment Management’s portfolio.

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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