Brighton Jones LLC bought a new stake in Starbucks Corporation (NASDAQ:SBUX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 106,945 shares of the coffee company’s stock, valued at approximately $6,236,000. Starbucks Corporation accounts for about 0.9% of Brighton Jones LLC’s investment portfolio, making the stock its 18th biggest holding.

A number of other institutional investors also recently added to or reduced their stakes in SBUX. Magellan Asset Management Ltd grew its holdings in Starbucks Corporation by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after purchasing an additional 18,667,265 shares during the period. Ameriprise Financial Inc. grew its holdings in Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after purchasing an additional 3,511,080 shares during the period. Bank of New York Mellon Corp grew its holdings in Starbucks Corporation by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock valued at $1,796,675,000 after purchasing an additional 2,234,324 shares during the period. State Street Corp grew its holdings in Starbucks Corporation by 2.7% in the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after purchasing an additional 1,598,669 shares during the period. Finally, Swiss National Bank grew its holdings in Starbucks Corporation by 24.0% in the first quarter. Swiss National Bank now owns 5,681,144 shares of the coffee company’s stock valued at $331,722,000 after purchasing an additional 1,099,100 shares during the period. Hedge funds and other institutional investors own 70.87% of the company’s stock.

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SBUX has been the subject of a number of recent analyst reports. Mizuho restated a “buy” rating and issued a $75.00 target price on shares of Starbucks Corporation in a report on Thursday, July 6th. Piper Jaffray Companies restated a “buy” rating and issued a $70.00 target price on shares of Starbucks Corporation in a report on Friday, July 14th. Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Cowen and Company restated an “outperform” rating and issued a $66.00 target price on shares of Starbucks Corporation in a report on Friday, July 21st. Finally, Wedbush restated a “neutral” rating and issued a $60.00 target price (down from $65.00) on shares of Starbucks Corporation in a report on Saturday, July 22nd. Thirteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $64.24.

Shares of Starbucks Corporation (NASDAQ SBUX) opened at 54.84 on Wednesday. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The firm’s 50-day moving average is $54.76 and its 200 day moving average is $57.45. The company has a market cap of $79.18 billion, a price-to-earnings ratio of 27.68 and a beta of 0.78.

In related news, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the transaction, the director now directly owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Culver sold 64,776 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 390,341 shares of the company’s stock, 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.

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.

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

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