Acropolis Investment Management LLC Acquires Shares of 4,800 Starbucks Corporation (SBUX)

Acropolis Investment Management LLC acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,800 shares of the coffee company’s stock, valued at approximately $280,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp boosted its position in Starbucks Corporation by 2.7% during the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock worth $3,551,445,000 after purchasing an additional 1,598,669 shares during the period. Bank of New York Mellon Corp boosted its position in 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 worth $1,796,675,000 after purchasing an additional 2,234,324 shares during the period. Magellan Asset Management Ltd boosted its position in 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 worth $1,090,000,000 after purchasing an additional 18,667,265 shares during the period. Ameriprise Financial Inc. boosted its position in Starbucks Corporation by 32.9% during the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock worth $827,444,000 after purchasing an additional 3,511,080 shares during the period. Finally, Polen Capital Management LLC boosted its position in 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 worth $611,035,000 after purchasing an additional 737,343 shares during the period. 70.82% of the stock is owned by hedge funds and other institutional investors.

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A number of equities analysts have commented on the stock. Wedbush reaffirmed a “neutral” rating and set a $60.00 price objective (down from $65.00) on shares of Starbucks Corporation in a research report on Saturday, July 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Starbucks Corporation in a research report on Wednesday, August 23rd. Vetr raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 price objective for the company in a research report on Thursday, June 8th. BidaskClub raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Cleveland Research cut shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 23rd. Thirteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $64.64.

Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same period last year, the company earned $0.49 EPS. Starbucks Corporation’s revenue for the quarter was up 8.1% compared to the same quarter last year.

In other Starbucks Corporation news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were purchased at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the transaction, the director now owns 18,000 shares in the company, valued at $995,400. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Culver sold 64,776 shares of Starbucks Corporation stock in a transaction that occurred on 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 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. 3.40% of the stock is owned by company insiders.

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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