Greenleaf Trust Sells 3,611 Shares of Starbucks Co. (NASDAQ:SBUX)

Greenleaf Trust cut its position in Starbucks Co. (NASDAQ:SBUX) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. FMR LLC boosted its position in Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after buying an additional 7,015,375 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Starbucks by 1,491.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,808,571 shares of the coffee company’s stock valued at $256,282,000 after buying an additional 2,632,087 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Starbucks by 1,078.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after buying an additional 2,329,431 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Starbucks in the third quarter valued at approximately $126,574,000. 72.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SBUX has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, January 24th. Wedbush upped their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company upped their target price on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Stifel Nicolaus upped their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Bank of America lowered their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Starbucks Stock Performance

NASDAQ SBUX opened at $107.68 on Monday. The business has a fifty day moving average price of $96.19 and a 200 day moving average price of $93.48. Starbucks Co. has a one year low of $71.55 and a one year high of $110.34. The company has a market cap of $122.31 billion, a P/E ratio of 34.74, a P/E/G ratio of 3.40 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate 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 company posted $0.90 earnings per share. As a group, sell-side analysts predict that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

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

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

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.