Starbucks Corporation (SBUX) Shares Bought by Hayek Kallen Investment Management

Hayek Kallen Investment Management grew its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,372 shares of the coffee company’s stock after purchasing an additional 1,026 shares during the period. Hayek Kallen Investment Management’s holdings in Starbucks Corporation were worth $2,296,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Appropriate Balance Financial Services Inc. lifted its stake in Starbucks Corporation by 1.6% during the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after purchasing an additional 13 shares during the last quarter. Jacobi Capital Management LLC lifted its stake in Starbucks Corporation by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after purchasing an additional 50 shares during the last quarter. Gradient Investments LLC lifted its stake in Starbucks Corporation by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after purchasing an additional 46 shares during the last quarter. Sharkey Howes & Javer lifted its stake in Starbucks Corporation by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after purchasing an additional 150 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its stake in Starbucks Corporation by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after purchasing an additional 187 shares during the last quarter. 70.87% of the stock is owned by hedge funds and other institutional investors.

Shares of Starbucks Corporation (NASDAQ SBUX) opened at 54.84 on Wednesday. The company has a 50 day moving average price of $54.76 and a 200 day moving average price of $57.45. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The stock has a market cap of $79.18 billion, a P/E ratio of 27.68 and a beta of 0.78.

In related news, Director Myron E. Ullman III sold 22,966 shares of Starbucks Corporation stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the transaction, the director now directly owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jorgen Vig Knudstorp acquired 18,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were acquired at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the acquisition, the director now owns 18,000 shares of the company’s stock, valued at $995,400. The disclosure for this purchase can be found here. Company insiders own 3.40% of the company’s stock.

Several equities research analysts have issued reports on the company. BMO Capital Markets lowered Starbucks Corporation from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $54.52 to $64.00 in a research note on Wednesday, August 9th. Wedbush reaffirmed a “hold” rating on shares of Starbucks Corporation in a research note on Friday, July 28th. Zacks Investment Research raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Mizuho reissued a “buy” rating and issued a $75.00 target price on shares of Starbucks Corporation in a research note on Friday, September 29th. Thirteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $64.24.

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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.

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

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