Mycio Wealth Partners LLC Continues to Hold Holdings in Starbucks Corporation (SBUX)

Mycio Wealth Partners LLC continued to hold its position in Starbucks Corporation (NASDAQ:SBUX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,580 shares of the coffee company’s stock at the close of the 2nd quarter. Mycio Wealth Partners LLC’s holdings in Starbucks Corporation were worth $209,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Starbucks Corporation by 2.7% during the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after purchasing an additional 1,598,669 shares during the period. Bank of New York Mellon Corp increased its position in shares of Starbucks Corporation by 7.8% during the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock valued at $1,796,675,000 after purchasing an additional 2,234,324 shares during the period. Magellan Asset Management Ltd increased its position in shares of Starbucks Corporation by 3,809,645.9% during the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after purchasing an additional 18,667,265 shares during the period. Ameriprise Financial Inc. increased its position in shares of Starbucks Corporation by 32.9% during the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after purchasing an additional 3,511,080 shares during the period. Finally, Polen Capital Management LLC increased its position in shares of Starbucks Corporation by 7.6% during the first quarter. Polen Capital Management LLC now owns 10,464,718 shares of the coffee company’s stock valued at $611,035,000 after purchasing an additional 737,343 shares during the period. Institutional investors and hedge funds own 70.87% of the company’s stock.

Shares of Starbucks Corporation (NASDAQ SBUX) opened at 55.17 on Tuesday. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87. The company has a market cap of $79.66 billion, a P/E ratio of 27.85 and a beta of 0.78. The company has a 50-day moving average price of $54.73 and a 200-day moving average price of $57.46.

A number of research firms have recently issued reports on SBUX. UBS AG set a $67.00 price objective on Starbucks Corporation and gave the company a “buy” rating in a research report on Friday, July 28th. Jefferies Group LLC reaffirmed an “average” rating and issued a $65.00 price target on shares of Starbucks Corporation in a research note on Friday, July 28th. Wedbush reaffirmed a “hold” rating on shares of Starbucks Corporation in a research note on Friday, July 28th. Guggenheim lowered Starbucks Corporation from a “buy” rating to a “neutral” rating in a research note on Friday, July 28th. Finally, Stifel Nicolaus lowered Starbucks Corporation from a “buy” rating to a “hold” rating and decreased their price target for the company from $66.00 to $58.00 in a research note on Friday, July 28th. Thirteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $64.24.

In other Starbucks Corporation news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the stock in a transaction dated Friday, August 4th. The stock was purchased at an average cost of $55.30 per share, with a total value of $995,400.00. Following the transaction, the director now owns 18,000 shares in the company, valued at approximately $995,400. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider John Culver sold 64,776 shares of Starbucks Corporation stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $53.54, for a total value of $3,468,107.04. Following the completion of the transaction, the insider now directly owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

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About Starbucks Corporation

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

Institutional Ownership by Quarter for Starbucks Corporation (NASDAQ:SBUX)

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