Greenleaf Trust Lowers Position in Starbucks Co. (NASDAQ:SBUX)

Greenleaf Trust cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 10.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,245 shares of the coffee company’s stock after selling 3,611 shares during the quarter. Greenleaf Trust’s holdings in Starbucks were worth $2,942,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its holdings in Starbucks by 1.0% during the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after acquiring an additional 437,218 shares during the period. Geode Capital Management LLC boosted its holdings in Starbucks by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after acquiring an additional 333,004 shares during the period. FMR LLC raised its position in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares in the last quarter. Wellington Management Group LLP raised its position in Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in Starbucks by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after purchasing an additional 327,734 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Down 1.2 %

Shares of SBUX stock opened at $107.68 on Monday. The business’s 50 day moving average is $96.19 and its two-hundred day moving average is $93.48. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $110.34. The company has a market capitalization of $122.31 billion, a P/E ratio of 34.74, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the prior year, the firm earned $0.90 EPS. As a group, equities analysts predict that Starbucks Co. will post 3 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.27%. Starbucks’s dividend payout ratio (DPR) is presently 78.71%.

Analysts Set New Price Targets

A number of research firms have issued reports on SBUX. Stifel Nicolaus increased their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Wells Fargo & Company increased their price target on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Bank of America reduced their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Morgan Stanley increased their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.33.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.