Kayne Anderson Rudnick Investment Management LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 50.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 328,233 shares of the coffee company’s stock after selling 334,610 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Starbucks were worth $17,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Catawba Capital Management VA increased its position in shares of Starbucks by 18.2% in the 2nd quarter. Catawba Capital Management VA now owns 11,615 shares of the coffee company’s stock valued at $677,000 after acquiring an additional 1,785 shares during the period. Xact Kapitalforvaltning AB grew its position in Starbucks by 0.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 236,180 shares of the coffee company’s stock worth $13,772,000 after purchasing an additional 751 shares during the period. Centre Asset Management LLC grew its position in Starbucks by 36.4% during the 2nd quarter. Centre Asset Management LLC now owns 113,170 shares of the coffee company’s stock worth $6,599,000 after purchasing an additional 30,230 shares during the period. Stillwater Capital Advisors LLC grew its position in Starbucks by 1.8% during the 2nd quarter. Stillwater Capital Advisors LLC now owns 175,508 shares of the coffee company’s stock worth $10,234,000 after purchasing an additional 3,030 shares during the period. Finally, Stock Yards Bank & Trust Co. grew its position in Starbucks by 1.2% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 239,900 shares of the coffee company’s stock worth $13,989,000 after purchasing an additional 2,913 shares during the period. 70.67% of the stock is currently owned by hedge funds and other institutional investors.

SBUX has been the topic of several analyst reports. Stephens reaffirmed an “equal weight” rating and set a $52.00 price target (down from $58.00) on shares of Starbucks in a research report on Friday, September 29th. They noted that the move was a valuation call. Mizuho reaffirmed a “buy” rating and set a $75.00 price target on shares of Starbucks in a research report on Friday, September 29th. Stifel Nicolaus initiated coverage on Starbucks in a research report on Tuesday, October 3rd. They set a “hold” rating and a $58.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $62.00 price target on shares of Starbucks in a research report on Wednesday, October 4th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Starbucks in a research report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Starbucks has an average rating of “Buy” and an average target price of $63.23.

In related news, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $56.73, for a total value of $3,214,662.18. Following the transaction, the director now directly owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $59.43, for a total transaction of $3,565,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 497,808 shares of company stock worth $28,559,521 over the last 90 days. Insiders own 3.40% of the company’s stock.

Shares of Starbucks Co. (NASDAQ SBUX) opened at $60.40 on Friday. Starbucks Co. has a 12-month low of $52.58 and a 12-month high of $64.87. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. The company has a market capitalization of $85,940.00, a PE ratio of 30.66, a PEG ratio of 1.60 and a beta of 0.76.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the firm earned $0.56 EPS. The company’s quarterly revenue was down .2% on a year-over-year basis. analysts predict that Starbucks Co. will post 2.37 earnings per share for the current fiscal year.

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About Starbucks

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 (NASDAQ:SBUX)

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