Traynor Capital Management Inc. Has $760,000 Holdings in Starbucks Corporation (SBUX)

Traynor Capital Management Inc. raised its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,782 shares of the coffee company’s stock after buying an additional 863 shares during the period. Traynor Capital Management Inc.’s holdings in Starbucks Corporation were worth $760,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Jacobi Capital Management LLC boosted its position in Starbucks Corporation by 2.7% during 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 period. Gradient Investments LLC boosted its position in Starbucks Corporation by 2.5% during 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 period. Sharkey Howes & Javer boosted its position in Starbucks Corporation by 8.5% during 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 period. IHT Wealth Management LLC boosted its position in Starbucks Corporation by 10.2% during 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 period. Finally, TrimTabs Asset Management LLC purchased a new stake in Starbucks Corporation during the 1st quarter valued at $122,000. 70.82% of the stock is owned by institutional investors and hedge funds.

Shares of Starbucks Corporation (NASDAQ:SBUX) opened at 55.97 on Friday. The stock’s 50 day moving average is $54.57 and its 200-day moving average is $57.73. The stock has a market cap of $80.82 billion, a P/E ratio of 28.25 and a beta of 0.78. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87.

Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts forecast that Starbucks Corporation will post $2.06 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This piece of content was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be viewed at https://sportsperspectives.com/2017/10/13/traynor-capital-management-inc-has-760000-holdings-in-starbucks-corporation-sbux.html.

SBUX has been the subject of several analyst reports. Zacks Investment Research raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Cowen and Company reissued a “buy” rating and set a $63.00 price target on shares of Starbucks Corporation in a research report on Friday, September 1st. Bank of America Corporation reissued a “neutral” rating and set a $65.00 price target on shares of Starbucks Corporation in a research report on Thursday, September 14th. Wedbush raised shares of Starbucks Corporation from a “neutral” rating to an “outperform” rating and increased their price target for the company from $57.00 to $60.00 in a research report on Friday, August 25th. Finally, Vetr raised shares of Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $67.14 price target for the company in a research report on Thursday, June 22nd. Thirteen 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 company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $64.24.

In other news, Director Jorgen Vig Knudstorp bought 18,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average price of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the transaction, the director now directly owns 18,000 shares in the company, valued at $995,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Culver sold 64,776 shares of the company’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 value of $3,468,107.04. Following the completion of the sale, the insider now owns 390,341 shares in the company, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Starbucks Corporation Profile

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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX).

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

Receive News & Ratings for Starbucks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply