Creative Planning buys $15,466,664 stake in Starbucks Corporation (SBUX)

Starbucks Corporation (SBUX) : Creative Planning scooped up 43,799 additional shares in Starbucks Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 292,265 shares of Starbucks Corporation which is valued at $15,466,664.Starbucks Corporation makes up approximately 0.10% of Creative Planning’s portfolio.

Other Hedge Funds, Including , Vontobel Asset Management Inc boosted its stake in SBUX in the latest quarter, The investment management firm added 3,100,871 additional shares and now holds a total of 3,517,590 shares of Starbucks Corporation which is valued at $187,487,547. Starbucks Corporation makes up approx 1.49% of Vontobel Asset Management Inc’s portfolio. Kelman-lazarov added SBUX to its portfolio by purchasing 190 company shares during the most recent quarter which is valued at $10,127. Starbucks Corporation makes up approx 0.01% of Kelman-lazarov’s portfolio. Cupps Capital Management sold out all of its stake in SBUX during the most recent quarter. The investment firm sold 3,695 shares of SBUX which is valued $196,944.Exxonmobil Investment Management Inc Tx reduced its stake in SBUX by selling 4,715 shares or 1.24% in the most recent quarter. The Hedge Fund company now holds 374,475 shares of SBUX which is valued at $20,019,434. Starbucks Corporation makes up approx 0.42% of Exxonmobil Investment Management Inc Tx’s portfolio.

Starbucks Corporation closed down -0.38 points or -0.71% at $52.92 with 97,20,407 shares getting traded on Tuesday. Post opening the session at $53.13, the shares hit an intraday low of $52.74 and an intraday high of $53.4 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. Shares were Reiterated by Wedbush on Sep 28, 2016 to “Outperform” and Lowered the Price Target to $ 65 from a previous price target of $70 .Starbucks Corporation was Initiated by Longbow to “Buy” on Sep 21, 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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