Greenleaf Trust Sells 3,716 Shares of Starbucks Corporation $SBUX

Key Points

• Greenleaf Trust reduced its stake in Starbucks Corporation by 11.4%, selling 3,716 shares and ending up with 28,829 shares valued at $2,642,000.
• Starbucks reported a quarterly EPS of $0.50, missing the consensus estimate of $0.64, while its revenue was $9.46 billion, surpassing expectations.
• Analysts have shown optimism for Starbucks, with several raising their target prices and the average target now at $104.00, indicating a "Moderate Buy" consensus.

Greenleaf Trust lessened its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 11.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,829 shares of the coffee company's stock after selling 3,716 shares during the quarter. Greenleaf Trust's holdings in Starbucks were worth $2,642,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Janney Capital Management LLC bought a new position in shares of Starbucks during the 2nd quarter worth about $10,664,000. Janney Montgomery Scott LLC raised its holdings in shares of Starbucks by 5.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 252,471 shares of the coffee company's stock worth $23,134,000 after acquiring an additional 12,377 shares during the last quarter. Wolff Wiese Magana LLC raised its holdings in shares of Starbucks by 39.8% in the 2nd quarter. Wolff Wiese Magana LLC now owns 583 shares of the coffee company's stock worth $53,000 after acquiring an additional 166 shares during the last quarter. Archford Capital Strategies LLC raised its holdings in shares of Starbucks by 37.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 2,814 shares of the coffee company's stock worth $258,000 after acquiring an additional 760 shares during the last quarter. Finally, GC Wealth Management RIA LLC acquired a new stake in shares of Starbucks in the 2nd quarter worth about $737,000. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $84.60 on Wednesday. The firm has a market cap of $96.16 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 5.15 and a beta of 1.00. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The firm has a 50-day moving average price of $88.09 and a two-hundred day moving average price of $88.80.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SBUX. Barclays upped their target price on shares of Starbucks from $106.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Baird R W upgraded shares of Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Wells Fargo & Company upped their target price on shares of Starbucks from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Loop Capital set a $165.00 target price on shares of Starbucks in a report on Tuesday, August 12th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $115.00 target price (up previously from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $104.00.

About Starbucks

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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