Genesee Valley Trust Co Lowers stake in Starbucks Corporation (SBUX)

Starbucks Corporation (SBUX) : Genesee Valley Trust Co reduced its stake in Starbucks Corporation by 1.21% during the most recent quarter end. The investment management company now holds a total of 33,081 shares of Starbucks Corporation which is valued at $1,750,647 after selling 404 shares in Starbucks Corporation , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Starbucks Corporation makes up approximately 1.13% of Genesee Valley Trust Co’s portfolio.

Other Hedge Funds, Including , Bristlecone Advisors boosted its stake in SBUX in the latest quarter, The investment management firm added 1,224 additional shares and now holds a total of 46,669 shares of Starbucks Corporation which is valued at $2,469,723. Starbucks Corporation makes up approx 0.90% of Bristlecone Advisors’s portfolio.Raymond James Trust N.a. boosted its stake in SBUX in the latest quarter, The investment management firm added 924 additional shares and now holds a total of 33,435 shares of Starbucks Corporation which is valued at $1,782,086. Starbucks Corporation makes up approx 0.15% of Raymond James Trust N.a.’s portfolio.Gofen Glossberg Il reduced its stake in SBUX by selling 7,163 shares or 1.29% in the most recent quarter. The Hedge Fund company now holds 546,656 shares of SBUX which is valued at $29,136,765. Starbucks Corporation makes up approx 1.21% of Gofen Glossberg Il’s portfolio.Advisory Services Network boosted its stake in SBUX in the latest quarter, The investment management firm added 5,993 additional shares and now holds a total of 10,332 shares of Starbucks Corporation which is valued at $552,349. Starbucks Corporation makes up approx 0.11% of Advisory Services Network’s portfolio.Franklin Street Advisors Inc Nc boosted its stake in SBUX in the latest quarter, The investment management firm added 2,925 additional shares and now holds a total of 66,095 shares of Starbucks Corporation which is valued at $3,526,168. Starbucks Corporation makes up approx 0.65% of Franklin Street Advisors Inc Nc’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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