Starbucks Corporation (SBUX) Shares Sold by Suncoast Equity Management

Suncoast Equity Management cut its position in Starbucks Corporation (NASDAQ:SBUX) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 188,374 shares of the coffee company’s stock after selling 431 shares during the quarter. Starbucks Corporation makes up about 3.3% of Suncoast Equity Management’s holdings, making the stock its 18th biggest position. Suncoast Equity Management’s holdings in Starbucks Corporation were worth $10,984,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SBUX. Jacobi Capital Management LLC grew its stake in Starbucks Corporation by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after buying an additional 50 shares during the last quarter. Gradient Investments LLC grew its stake in Starbucks Corporation by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after buying an additional 46 shares during the last quarter. Sharkey Howes & Javer grew its stake in Starbucks Corporation by 8.5% in the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after buying an additional 150 shares during the last quarter. IHT Wealth Management LLC grew its stake in Starbucks Corporation by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after buying an additional 187 shares during the last quarter. Finally, TrimTabs Asset Management LLC acquired a new position in Starbucks Corporation in the 1st quarter valued at $122,000. Institutional investors and hedge funds own 70.87% of the company’s stock.

Several analysts have issued reports on SBUX shares. Cowen and Company restated a “buy” rating and issued a $63.00 price target on shares of Starbucks Corporation in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Mizuho restated a “buy” rating and issued a $75.00 price target on shares of Starbucks Corporation in a research report on Friday, September 29th. UBS AG set a $67.00 price target on shares of Starbucks Corporation and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, Jefferies Group LLC restated an “average” rating and issued a $65.00 price target on shares of Starbucks Corporation in a research report on Friday, July 28th. Thirteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Starbucks Corporation currently has a consensus rating of “Buy” and an average price target of $64.02.

In other news, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the sale, the director now directly owns 36,966 shares in the company, valued at approximately $1,974,354.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Culver sold 64,776 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the sale, the insider now owns 390,341 shares in the company, 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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