Copperleaf Capital LLC Decreases Holdings in Starbucks Corporation $SBUX

Key Points

• Copperleaf Capital LLC reduced its stake in Starbucks Corporation by 22.4%, now holding 14,152 shares valued at approximately $1.39 million.
• Starbucks recently reported earnings of $0.50 per share, falling short of the $0.64 consensus estimate, despite revenue exceeding expectations at $9.46 billion.
• The company's stock is currently rated as a "Moderate Buy" with an average price target of $104.40 following various ratings from several analysts.

Copperleaf Capital LLC trimmed its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 22.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,152 shares of the coffee company's stock after selling 4,091 shares during the quarter. Copperleaf Capital LLC's holdings in Starbucks were worth $1,388,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in Starbucks during the fourth quarter valued at $25,000. Hughes Financial Services LLC bought a new stake in Starbucks in the 1st quarter valued at about $27,000. McClarren Financial Advisors Inc. purchased a new stake in Starbucks during the first quarter valued at about $29,000. Activest Wealth Management boosted its position in Starbucks by 78.0% during the first quarter. Activest Wealth Management now owns 331 shares of the coffee company's stock worth $32,000 after purchasing an additional 145 shares during the period. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of Starbucks in the first quarter worth about $42,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SBUX. BMO Capital Markets reiterated an "outperform" rating and issued a $115.00 price objective (up from $100.00) on shares of Starbucks in a research note on Wednesday, July 30th. Morgan Stanley reaffirmed an "overweight" rating and issued a $103.00 price target (up previously from $95.00) on shares of Starbucks in a report on Wednesday, July 30th. Loop Capital set a $165.00 target price on Starbucks in a research report on Tuesday, August 12th. Jefferies Financial Group lowered Starbucks from a "hold" rating to an "underperform" rating and set a $76.00 target price on the stock. in a research note on Thursday, July 17th. Finally, Stifel Nicolaus upped their price objective on shares of Starbucks from $92.00 to $105.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Starbucks currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.40.

Starbucks Trading Down 2.8%

Shares of NASDAQ SBUX opened at $87.25 on Thursday. The stock's 50-day moving average is $91.77 and its 200 day moving average is $92.19. The stock has a market cap of $99.18 billion, a price-to-earnings ratio of 37.61, a P/E/G ratio of 5.23 and a beta of 1.00. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46.

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

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.61 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.44 annualized dividend and a yield of 2.8%. Starbucks's payout ratio is presently 105.17%.

Starbucks Company 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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