What Will Starbucks’s Top Institutional Shareholders Make Of This Price Reduction?

Starbucks (NASDAQ:SBUX) is cutting its prices for bulk coffee found in grocery stores, amounting to a 10 percent or so reduction, in efforts to remain competitive with the likes of DunkinDonuts (NASDAQ:DNKN), Folgers, and Kraft’s (NASDAQ:KRFT) Maxwell House. The 12 ounce packages will now sell for $8.99, down from $9.99, and Seattle’s Best (a Starbucks subsidiary), will fall from $7.99 to $6.99. The price drops are not too demanding on the company, as arabica beans have fallen to the lowest futures seen in three years.

These institutional firms indicated owning shares of Starbucks Corp. in Q1 2013. They reported owning a total of 2.918 million shares on 03/31/2013. The shares closed at $56.95 on 03/31/2013.

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Here are the nine largest positions in Starbucks Corp. at the end of March 31st, 2013.

British Columbia Investment Management Corp. held 506,895 shares on 03/31/2013 worth $28,868,000. This brought the portfolio total to 0.33%.

Loring, Wolcott & Coolidge Fiduciary Advisors LLP held 346,662 shares on 03/31/2013 worth $19,742,000. This brought the portfolio total to 0.63%.

Gofen & Glossberg LLC held 304,658 shares on 03/31/2013 worth $17,350,000. This brought the portfolio total to 0.96%.

Capital Investment Services of America Inc. held 162,034 shares on 03/31/2013 worth $9,228,000. This brought the portfolio total to 2.7%.

Boston Private Bank & Trust Co. held 124,921 shares on 03/31/2013 worth $7,114,000. This brought the portfolio total to 0.41%.

Chesley Taft & Associates LLC held 104,495 shares on 03/31/2013 worth $5,951,000. This brought the portfolio total to 0.69%.

First Citizens Bank & Trust Co. held 93,060 shares on 03/31/2013 worth $5,300,000. This brought the portfolio total to 0.17%.

BB&T Corp. held 90,753 shares on 03/31/2013 worth $5,169,000. This brought the portfolio total to 0.21%.

Sumitomo Mitsui Asset Management Company LTD held 84,049 shares on 03/31/2013 worth $4,787,000. This brought the portfolio total to 0.14%.

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