Doheny Asset Management Ca Lowers stake in Starbucks Corporation (SBUX)

Starbucks Corporation (SBUX) : Doheny Asset Management Ca reduced its stake in Starbucks Corporation by 5.9% during the most recent quarter end. The investment management company now holds a total of 79,728 shares of Starbucks Corporation which is valued at $4,422,512 after selling 5,000 shares in Starbucks Corporation , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Starbucks Corporation makes up approximately 2.14% of Doheny Asset Management Ca’s portfolio.

Other Hedge Funds, Including , Tokio Marine Asset Management Co Ltd reduced its stake in SBUX by selling 1,208 shares or 2.7% in the most recent quarter. The Hedge Fund company now holds 43,506 shares of SBUX which is valued at $2,516,822. Starbucks Corporation makes up approx 0.25% of Tokio Marine Asset Management Co Ltd’s portfolio.

Starbucks Corporation closed down -0.59 points or -1.06% at $54.94 with 89,81,214 shares getting traded on Friday. Post opening the session at $55.46, the shares hit an intraday low of $54.85 and an intraday high of $55.56 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.

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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