Greenleaf Trust reduced its position in shares of Starbucks Corp. (NASDAQ:SBUX) by 9.6% during the second quarter, Holdings Channel reports. The firm owned 173,305 shares of the coffee company’s stock after selling 18,493 shares during the period. Starbucks Corp. comprises 0.3% of Greenleaf Trust’s holdings, making the stock its 26th largest position. Greenleaf Trust’s holdings in Starbucks Corp. were worth $9,899,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Starbucks Corp. during the second quarter valued at approximately $123,000. Kistler Tiffany Companies LLC increased its stake in Starbucks Corp. by 138.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,556 shares of the coffee company’s stock valued at $146,000 after buying an additional 1,484 shares during the period. Dubuque Bank & Trust Co. increased its stake in Starbucks Corp. by 9.7% in the first quarter. Dubuque Bank & Trust Co. now owns 2,954 shares of the coffee company’s stock valued at $176,000 after buying an additional 262 shares during the period. Community Bank N.A. increased its stake in Starbucks Corp. by 4.6% in the second quarter. Community Bank N.A. now owns 3,383 shares of the coffee company’s stock valued at $193,000 after buying an additional 150 shares during the period. Finally, Maryland Capital Management acquired a new stake in Starbucks Corp. during the first quarter valued at $201,000. 68.13% of the stock is owned by hedge funds and other institutional investors.
Starbucks Corp. (NASDAQ:SBUX) traded down 0.07% on Monday, reaching $53.42. The company had a trading volume of 4,227,438 shares. The company has a market capitalization of $78.35 billion, a PE ratio of 30.01 and a beta of 0.83. The company’s 50-day moving average is $54.84 and its 200-day moving average is $56.43. Starbucks Corp. has a 52-week low of $52.63 and a 52-week high of $64.00.
Starbucks Corp. (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.49. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.34 billion. Equities analysts anticipate that Starbucks Corp. will post $1.89 EPS for the current fiscal year.
Several analysts have recently weighed in on SBUX shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $68.00 target price on shares of Starbucks Corp. in a research report on Monday, June 13th. Wedbush reiterated an “outperform” rating and set a $70.00 target price on shares of Starbucks Corp. in a research report on Tuesday, June 14th. Zacks Investment Research downgraded Starbucks Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. Robert W. Baird reiterated an “outperform” rating on shares of Starbucks Corp. in a research report on Tuesday, June 28th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Starbucks Corp. in a research report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $66.54.
In related news, Director Myron E. Ullman III sold 12,654 shares of Starbucks Corp. stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total transaction of $742,789.80. Following the completion of the transaction, the director now directly owns 26,654 shares of the company’s stock, valued at $1,564,589.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.38% of the company’s stock.
Starbucks Corp. Company Profile
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
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