Greenleaf Trust Acquires 2,451 Shares of Starbucks Co. (NASDAQ:SBUX)

Greenleaf Trust increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 213,902 shares of the coffee company’s stock after purchasing an additional 2,451 shares during the quarter. Greenleaf Trust’s holdings in Starbucks were worth $20,537,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Starbucks by 0.4% during the third quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock valued at $9,756,001,000 after acquiring an additional 387,632 shares during the last quarter. State Street Corp boosted its position in Starbucks by 0.3% during the first quarter. State Street Corp now owns 44,120,185 shares of the coffee company’s stock valued at $4,594,235,000 after acquiring an additional 135,644 shares during the last quarter. Morgan Stanley boosted its position in Starbucks by 46.3% during the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after acquiring an additional 8,451,599 shares during the last quarter. Northern Trust Corp boosted its position in Starbucks by 1.5% during the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after acquiring an additional 232,031 shares during the last quarter. Finally, Norges Bank bought a new stake in Starbucks during the fourth quarter valued at $1,222,931,000. Institutional investors own 72.29% of the company’s stock.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 7,250 shares of company stock worth $653,183 in the last three months. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Starbucks stock traded up $0.46 during mid-day trading on Friday, reaching $87.61. The company’s stock had a trading volume of 11,898,220 shares, compared to its average volume of 8,456,940. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48. The company has a market capitalization of $99.19 billion, a P/E ratio of 23.38, a PEG ratio of 1.39 and a beta of 0.97. The firm’s fifty day moving average price is $91.14 and its two-hundred day moving average price is $94.42.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 earnings per share. On average, research analysts predict that Starbucks Co. will post 4.03 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.60%. Starbucks’s dividend payout ratio (DPR) is currently 60.96%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of research analyst reports. Stifel Nicolaus cut their price target on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Barclays dropped their price target on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $105.00 price target on shares of Starbucks in a research report on Monday, April 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $106.68.

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.