Fernwood Investment Management LLC Has $234,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Fernwood Investment Management LLC lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 5.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,152 shares of the coffee company’s stock after selling 188 shares during the quarter. Fernwood Investment Management LLC’s holdings in Starbucks were worth $234,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SBUX. State Treasurer State of Michigan lifted its position in Starbucks by 0.9% during the 1st quarter. State Treasurer State of Michigan now owns 358,360 shares of the coffee company’s stock valued at $26,640,000 after purchasing an additional 3,200 shares during the period. Lyell Wealth Management LP lifted its position in Starbucks by 24.9% during the 1st quarter. Lyell Wealth Management LP now owns 12,543 shares of the coffee company’s stock valued at $932,000 after purchasing an additional 2,500 shares during the period. Cetera Advisor Networks LLC lifted its position in Starbucks by 2.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 51,761 shares of the coffee company’s stock valued at $3,846,000 after purchasing an additional 1,377 shares during the period. Cetera Advisors LLC lifted its position in Starbucks by 19.4% during the 1st quarter. Cetera Advisors LLC now owns 27,204 shares of the coffee company’s stock valued at $2,017,000 after purchasing an additional 4,425 shares during the period. Finally, First Allied Advisory Services Inc. lifted its position in Starbucks by 27.3% during the 1st quarter. First Allied Advisory Services Inc. now owns 115,909 shares of the coffee company’s stock valued at $8,598,000 after purchasing an additional 24,843 shares during the period. 71.60% of the stock is currently owned by hedge funds and other institutional investors.

In other Starbucks news, EVP Lucy Lee Helm sold 10,000 shares of Starbucks stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $83.00, for a total transaction of $830,000.00. Following the completion of the transaction, the executive vice president now directly owns 113,455 shares of the company’s stock, valued at $9,416,765. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Myron E. Ullman III sold 9,973 shares of Starbucks stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $76.12, for a total transaction of $759,144.76. The disclosure for this sale can be found here. Insiders sold 83,910 shares of company stock valued at $6,578,788 over the last three months. 3.98% of the stock is owned by company insiders.

Shares of SBUX traded up $0.72 during mid-day trading on Monday, hitting $84.55. 6,535,540 shares of the company’s stock were exchanged, compared to its average volume of 9,370,486. Starbucks Co. has a 52 week low of $48.40 and a 52 week high of $85.20. The stock has a 50-day moving average of $80.39. The firm has a market capitalization of $102.41 billion, a P/E ratio of 34.94, a PEG ratio of 2.35 and a beta of 0.55.

Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Starbucks had a net margin of 11.87% and a negative return on equity of 494.61%. The business had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same period last year, the business earned $0.53 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. Equities research analysts predict that Starbucks Co. will post 2.78 EPS for the current fiscal year.

A number of research analysts have issued reports on the stock. Wells Fargo & Co downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating and cut their target price for the company from $83.00 to $80.00 in a research report on Friday, April 26th. They noted that the move was a valuation call. BMO Capital Markets increased their price target on shares of Starbucks from $60.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Wedbush reiterated a “hold” rating and issued a $70.00 price target on shares of Starbucks in a research report on Thursday, April 18th. Piper Jaffray Companies increased their price target on shares of Starbucks from $77.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, June 10th. They noted that the move was a valuation call. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $80.00 price target (up from $70.00) on shares of Starbucks in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Starbucks has an average rating of “Buy” and an average target price of $77.19.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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