Cullinan Associates Inc buys $10,834,369 stake in Starbucks Corporation (SBUX)

Starbucks Corporation (SBUX) : Cullinan Associates Inc scooped up 515 additional shares in Starbucks Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 1, 2016. The investment management firm now holds a total of 190,110 shares of Starbucks Corporation which is valued at $10,834,369.Starbucks Corporation makes up approximately 0.88% of Cullinan Associates Inc’s portfolio.

Starbucks Corporation closed down -0.13 points or -0.23% at $56.99 with 83,30,308 shares getting traded on Friday. Post opening the session at $57.04, the shares hit an intraday low of $56.845 and an intraday high of $57.36 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

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 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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