Greenleaf Trust Sells 5,653 Shares of Starbucks Co. (NASDAQ:SBUX)

Greenleaf Trust lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 13.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 35,856 shares of the coffee company's stock after selling 5,653 shares during the period. Greenleaf Trust's holdings in Starbucks were worth $3,496,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks during the 2nd quarter valued at $25,000. New Millennium Group LLC bought a new stake in Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC grew its holdings in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company's stock worth $26,000 after acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Starbucks in the 2nd quarter worth $27,000. Finally, Olistico Wealth LLC bought a new stake in Starbucks in the 2nd quarter worth $31,000. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Down 0.8 %

Starbucks stock traded down $0.82 during trading hours on Wednesday, hitting $96.00. The stock had a trading volume of 3,836,045 shares, compared to its average volume of 11,308,641. The stock has a market capitalization of $108.74 billion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The stock's 50-day moving average price is $95.31 and its 200-day moving average price is $84.80.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business's revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share. On average, research analysts expect that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.54%. This is a boost from Starbucks's previous quarterly dividend of $0.57. Starbucks's payout ratio is presently 62.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SBUX. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a "hold" rating to a "buy" rating and raised their price target for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Oppenheimer reissued a "market perform" rating on shares of Starbucks in a report on Monday, August 26th. BTIG Research raised their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Evercore ISI raised shares of Starbucks from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Finally, Piper Sandler raised shares of Starbucks from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks has an average rating of "Moderate Buy" and a consensus price target of $102.08.

Insider Activity

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm's stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares of the company's stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company's stock, valued at $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the firm's stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares of the company's stock, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

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.

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