Davis R M INC Decreased Stake in Starbucks Corp (NASDAQ:SBUX) by $3.14 Million as Shares Rose


Davis R M Inc decreased its stake in Starbucks Corp (NASDAQ:SBUX) by 11.07% based on its latest 2016Q2 regulatory filing with the SEC. Davis R M Inc sold 53,179 shares as the company’s stock rose 2.47% with the market. The institutional investor held 427,039 shares of the restaurants company at the end of 2016Q2, valued at $25.49M, down from 480,218 at the end of the previous reported quarter. Davis R M Inc who had been investing in Starbucks Corp for a number of months, seems to be less bullish one the $79.65B market cap company. The stock is down 1.39% or $0.76 after the negative news, hitting $53.95 per share. About 7.43 million shares traded hands. Starbucks Corporation (NASDAQ:SBUX) has risen 1.05% since February 8, 2016 and is uptrending. It has underperformed by 15.44% the S&P500.

Davis R M Inc is a Maine-based institutional investor with more than $2.84 billion AUM in December, 2014. Taken from Davis R M latest Adv, the fund reported to have 40 full and part-time employees. Among which 22 performing investment advisory and research functions. The institutional investor had more than 1500 clients.

The institutional sentiment increased to 1.02 in Q2 2016. Its up 0.05, from 0.97 in 2016Q1. The ratio improved, as 75 funds sold all SBUX shares owned while 464 reduced positions. 87 funds bought stakes while 464 increased positions. They now own 971.80 million shares or 3.96% less from 1.01 billion shares in 2016Q1.

Night Owl Capital Management Llc holds 6.23% of its portfolio in SBUX for 152,736 shares. Lincoln Capital Llc owns 144,485 shares or 6.17% of their US portfolio. Moreover, Ithaka Group Llc has 6% invested in the company for 723,978 shares. The Washington-based Archon Capital Management Llc has invested 5.84% in the stock. Eagle Capital Management Llc, a Alabama-based fund reported 72,981 shares.

Out of 13 analysts covering Starbucks (NASDAQ:SBUX), 9 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 69% are positive. Starbucks has been the topic of 14 analyst reports since October 30, 2015 according to StockzIntelligence Inc. BTIG Research maintained the stock on July 22 with “Buy” rating.

Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The company has a market cap of $79.65 billion. The Firm 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 has a 30.18 P/E ratio. 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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