Trade Report: The Arrow Financial Corp Acquires 465 Shares of Starbucks Corp. (SBUX)

The Arrow Financial Corp Acquires 465 Shares of Starbucks Corp. (SBUX)

Arrow Financial Corp increased its stake in shares of Starbucks Corp. (NASDAQ:SBUX) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 46,490 shares of the coffee company’s stock after buying an additional 465 shares during the period. Arrow Financial Corp’s holdings in Starbucks Corp. were worth $2,656,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in SBUX. Advisory Services Network LLC raised its position in shares of Starbucks Corp. by 0.3% in the second quarter. Advisory Services Network LLC now owns 4,339 shares of the coffee company’s stock worth $248,000 after buying an additional 13 shares during the period. Roberts Glore & Co. Inc. IL raised its position in Starbucks Corp. by 0.9% in the second quarter. Roberts Glore & Co. Inc. IL now owns 5,325 shares of the coffee company’s stock worth $304,000 after buying an additional 50 shares during the period. Abner Herrman & Brock LLC raised its position in Starbucks Corp. by 2.4% in the second quarter. Abner Herrman & Brock LLC now owns 4,152 shares of the coffee company’s stock worth $234,000 after buying an additional 97 shares during the period. Trust Co raised its position in Starbucks Corp. by 1.4% in the first quarter. Trust Co now owns 7,164 shares of the coffee company’s stock worth $428,000 after buying an additional 101 shares during the period. Finally, BTC Capital Management Inc. raised its position in Starbucks Corp. by 2.9% in the second quarter. BTC Capital Management Inc. now owns 3,782 shares of the coffee company’s stock worth $216,000 after buying an additional 107 shares during the period. Institutional investors own 68.39% of the company’s stock.

Starbucks Corp. (NASDAQ:SBUX) traded down 0.11% during mid-day trading on Friday, reaching $53.53. The company’s stock had a trading volume of 6,620,333 shares. The firm has a market capitalization of $78.51 billion, a price-to-earnings ratio of 30.07 and a beta of 0.83. Starbucks Corp. has a 1-year low of $52.59 and a 1-year high of $64.00. The firm has a 50-day moving average of $53.63 and a 200 day moving average of $55.74.

SBUX has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Starbucks Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Morgan Stanley reiterated a “buy” rating and issued a $64.00 price objective on shares of Starbucks Corp. in a research report on Sunday, August 14th. Macquarie upgraded shares of Starbucks Corp. from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 14th. RBC Capital Markets reiterated an “outperform” rating and issued a $68.00 price objective on shares of Starbucks Corp. in a research report on Tuesday, September 13th. Finally, Jefferies Group reiterated a “buy” rating on shares of Starbucks Corp. in a research report on Tuesday, July 5th. Six investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $66.04.

About Starbucks Corp.

Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.

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