Starbucks Corporation (SBUX) : Merriman Wealth Management reduced its stake in Starbucks Corporation by 8.32% during the most recent quarter end. The investment management company now holds a total of 20,197 shares of Starbucks Corporation which is valued at $1,222,120 after selling 1,834 shares in Starbucks Corporation , the firm said in a disclosure report filed with the SEC on Apr 12, 2016.Starbucks Corporation makes up approximately 1.12% of Merriman Wealth Management’s portfolio.
Starbucks Corporation opened for trading at $60.24 and hit $60.6246 on the upside on Friday, eventually ending the session at $60.51, with a gain of 0.63% or 0.38 points. The heightened volatility saw the trading volume jump to 59,65,310 shares. Company has a market cap of $89,440 M.
Other Hedge Funds, Including , Banced Corp boosted its stake in SBUX in the latest quarter, The investment management firm added 667 additional shares and now holds a total of 13,144 shares of Starbucks Corporation which is valued at $795,343. Starbucks Corporation makes up approx 1.38% of Banced Corp’s portfolio.Proficio Capital Partners boosted its stake in SBUX in the latest quarter, The investment management firm added 1,741 additional shares and now holds a total of 2,096 shares of Starbucks Corporation which is valued at $127,646. Starbucks Corporation makes up approx 0.11% of Proficio Capital Partners’s portfolio.West Oak Capital reduced its stake in SBUX by selling 895 shares or 2.25% in the most recent quarter. The Hedge Fund company now holds 38,896 shares of SBUX which is valued at $2,368,766. Starbucks Corporation makes up approx 1.84% of West Oak Capital’s portfolio.Pensionfund Sabic reduced its stake in SBUX by selling 3,400 shares or 7.23% in the most recent quarter. The Hedge Fund company now holds 43,600 shares of SBUX which is valued at $2,655,240. Starbucks Corporation makes up approx 0.81% of Pensionfund Sabic’s portfolio.
On the company’s financial health, Starbucks Corporation reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jan 21, 2016. Analyst had a consensus of $0.45. The company had revenue of $5373.50 million for the quarter, compared to analysts expectations of $5394.69 million. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 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.