Stralem Co Inc Lowers stake in Starbucks Corporation (SBUX)

Starbucks Corporation (SBUX) : Stralem Co Inc reduced its stake in Starbucks Corporation by 7.5% during the most recent quarter end. The investment management company now holds a total of 449,100 shares of Starbucks Corporation which is valued at $25,841,214 after selling 36,400 shares in Starbucks Corporation , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Starbucks Corporation makes up approximately 2.92% of Stralem Co Inc’s portfolio.

Other Hedge Funds, Including , Merriman Wealth Management boosted its stake in SBUX in the latest quarter, The investment management firm added 554 additional shares and now holds a total of 20,751 shares of Starbucks Corporation which is valued at $1,172,639. Starbucks Corporation makes up approx 0.33% of Merriman Wealth Management’s portfolio.Trust Co boosted its stake in SBUX in the latest quarter, The investment management firm added 2,627 additional shares and now holds a total of 60,914 shares of Starbucks Corporation which is valued at $3,442,250. Starbucks Corporation makes up approx 1.30% of Trust Co’s portfolio.Washington Trust Bank boosted its stake in SBUX in the latest quarter, The investment management firm added 277 additional shares and now holds a total of 59,810 shares of Starbucks Corporation which is valued at $3,379,863. Starbucks Corporation makes up approx 0.87% of Washington Trust Bank’s portfolio.Capital Investment Services Of America reduced its stake in SBUX by selling 4,985 shares or 2.08% in the most recent quarter. The Hedge Fund company now holds 234,886 shares of SBUX which is valued at $13,273,408. Starbucks Corporation makes up approx 2.50% of Capital Investment Services Of America’s portfolio.

Starbucks Corporation opened for trading at $57 and hit $57.66 on the upside on Wednesday, eventually ending the session at $57.54, with a gain of 1.37% or 0.78 points. The heightened volatility saw the trading volume jump to 94,46,396 shares. Company has a market cap of $84,290 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.

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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