Fortaleza Asset Management Inc Lowers stake in Starbucks Corporation (SBUX)

Starbucks Corporation (SBUX) : Fortaleza Asset Management Inc reduced its stake in Starbucks Corporation by 0.02% during the most recent quarter end. The investment management company now holds a total of 67,159 shares of Starbucks Corporation which is valued at $3.7 Million after selling 15 shares in Starbucks Corporation , the firm said in a disclosure report filed with the SEC on May 12, 2016.Starbucks Corporation makes up approximately 2.41% of Fortaleza Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Gardner Lewis Asset Management L P boosted its stake in SBUX in the latest quarter, The investment management firm added 13,249 additional shares and now holds a total of 31,829 shares of Starbucks Corporation which is valued at $1.8 Million. Starbucks Corporation makes up approx 0.51% of Gardner Lewis Asset Management L P’s portfolio.Johnson Financial Group boosted its stake in SBUX in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 8,045 shares of Starbucks Corporation which is valued at $449,072. Starbucks Corporation makes up approx 0.09% of Johnson Financial Group’s portfolio.Liberty Mutual Group Asset Management boosted its stake in SBUX in the latest quarter, The investment management firm added 10,412 additional shares and now holds a total of 98,718 shares of Starbucks Corporation which is valued at $5.6 Million. Starbucks Corporation makes up approx 0.23% of Liberty Mutual Group Asset Management’s portfolio.Bender Robert Associates reduced its stake in SBUX by selling 2,467 shares or 3.1% in the most recent quarter. The Hedge Fund company now holds 77,154 shares of SBUX which is valued at $4.3 Million. Starbucks Corporation makes up approx 3.02% of Bender Robert Associates’s portfolio.Mizuho Trust Banking Ltd. boosted its stake in SBUX in the latest quarter, The investment management firm added 90,235 additional shares and now holds a total of 2,326,142 shares of Starbucks Corporation which is valued at $130.8 Million. Starbucks Corporation makes up approx 0.41% of Mizuho Trust Banking Ltd.’s portfolio.

Starbucks Corporation opened for trading at $54.88 and hit $55.3736 on the upside on Friday, eventually ending the session at $54.62, with a gain of 0.13% or 0.07 points. The heightened volatility saw the trading volume jump to 84,30,783 shares. Company has a market cap of $80,013 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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