Envestnet Asset Management Inc Lowers stake in Starbucks Corporation (SBUX)

Starbucks Corporation (SBUX) : Envestnet Asset Management Inc reduced its stake in Starbucks Corporation by 5.61% during the most recent quarter end. The investment management company now holds a total of 775,577 shares of Starbucks Corporation which is valued at $42,051,785 after selling 46,096 shares in Starbucks Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Starbucks Corporation makes up approximately 0.17% of Envestnet Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Pacific Global Investment Management Co boosted its stake in SBUX in the latest quarter, The investment management firm added 250 additional shares and now holds a total of 24,405 shares of Starbucks Corporation which is valued at $1,323,239. Starbucks Corporation makes up approx 0.28% of Pacific Global Investment Management Co’s portfolio.Argent Trust Co reduced its stake in SBUX by selling 73 shares or 0.75% in the most recent quarter. The Hedge Fund company now holds 9,671 shares of SBUX which is valued at $527,843. Starbucks Corporation makes up approx 0.23% of Argent Trust Co’s portfolio.Pettyjohn Wood White Inc boosted its stake in SBUX in the latest quarter, The investment management firm added 17,300 additional shares and now holds a total of 35,240 shares of Starbucks Corporation which is valued at $1,867,015. Starbucks Corporation makes up approx 0.92% of Pettyjohn Wood White Inc’s portfolio.Shell Asset Management Co reduced its stake in SBUX by selling 15,078 shares or 7.25% in the most recent quarter. The Hedge Fund company now holds 192,754 shares of SBUX which is valued at $10,229,455. Starbucks Corporation makes up approx 0.26% of Shell Asset Management Co’s portfolio.Ami Asset Management Corp reduced its stake in SBUX by selling 9,451 shares or 1.42% in the most recent quarter. The Hedge Fund company now holds 654,327 shares of SBUX which is valued at $34,522,293. Starbucks Corporation makes up approx 2.42% of Ami Asset Management Corp’s portfolio.

Starbucks Corporation closed down -0.08 points or -0.14% at $55.77 with 87,40,953 shares getting traded on Monday. Post opening the session at $55.72, the shares hit an intraday low of $55.42 and an intraday high of $56.12 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Starbucks Corporation reported $0.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.55. The company had revenue of $5711.20 million for the quarter, compared to analysts expectations of $5688.28 million. The company’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.

Many Wall Street Analysts have commented on Starbucks Corporation. Starbucks Corporation was Initiated by Buckingham Research to “Neutral” on Nov 21, 2016. Shares were Reiterated by RBC Capital Mkts on Oct 19, 2016 to “Outperform” and Lowered the Price Target to $ 64 from a previous price target of $68 .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 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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