Greenleaf Trust Decreases Position in Starbucks Corporation $SBUX

Greenleaf Trust lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 11.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,829 shares of the coffee company’s stock after selling 3,716 shares during the period. Greenleaf Trust’s holdings in Starbucks were worth $2,642,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SBUX. Brighton Jones LLC increased its stake in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. NBC Securities Inc. increased its stake in shares of Starbucks by 166,860.0% during the 1st quarter. NBC Securities Inc. now owns 8,348 shares of the coffee company’s stock worth $818,000 after purchasing an additional 8,343 shares during the last quarter. Merit Financial Group LLC boosted its holdings in Starbucks by 6.0% in the 1st quarter. Merit Financial Group LLC now owns 73,358 shares of the coffee company’s stock worth $7,196,000 after buying an additional 4,177 shares during the period. ST Germain D J Co. Inc. boosted its holdings in Starbucks by 2.4% in the 1st quarter. ST Germain D J Co. Inc. now owns 7,192 shares of the coffee company’s stock worth $705,000 after buying an additional 171 shares during the period. Finally, InvesTrust boosted its holdings in Starbucks by 0.6% in the 1st quarter. InvesTrust now owns 65,275 shares of the coffee company’s stock worth $6,403,000 after buying an additional 389 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $84.60 on Wednesday. The firm has a fifty day moving average price of $88.09 and a two-hundred day moving average price of $88.80. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The company has a market cap of $96.16 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 5.15 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the previous year, the business earned $0.93 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on SBUX. Wells Fargo & Company raised their price objective on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $115.00 price objective (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Evercore ISI reaffirmed an “outperform” rating and issued a $105.00 price objective (up from $95.00) on shares of Starbucks in a report on Tuesday, June 24th. Piper Sandler set a $105.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Stifel Nicolaus raised their price objective on shares of Starbucks from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $104.00.

Starbucks Profile

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.