Copperleaf Capital LLC Raises Stake in Starbucks Co. (NASDAQ:SBUX)

Copperleaf Capital LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 7.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,490 shares of the coffee company’s stock after buying an additional 257 shares during the quarter. Copperleaf Capital LLC’s holdings in Starbucks were worth $346,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich grew its position in Starbucks by 80,389.3% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 125,195,416 shares of the coffee company’s stock worth $12,401,858,000 after purchasing an additional 125,039,873 shares during the period. Norges Bank acquired a new stake in shares of Starbucks during the 4th quarter valued at about $1,222,931,000. Moneta Group Investment Advisors LLC increased its position in shares of Starbucks by 115,334.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock valued at $842,569,000 after buying an additional 8,486,281 shares in the last quarter. Morgan Stanley raised 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 worth $2,650,462,000 after acquiring an additional 8,451,599 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Starbucks during the 1st quarter worth about $190,270,000. 70.13% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Down 0.4 %

NASDAQ SBUX traded down $0.38 on Tuesday, reaching $103.92. The stock had a trading volume of 2,791,779 shares, compared to its average volume of 6,375,906. Starbucks Co. has a 12-month low of $89.21 and a 12-month high of $115.48. The stock has a fifty day moving average price of $96.09 and a two-hundred day moving average price of $98.73. The firm has a market capitalization of $119.03 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 1.56 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, November 2nd. The coffee company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.97 by $0.09. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.29 billion. Starbucks had a net margin of 11.47% and a negative return on equity of 48.79%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 earnings per share. Sell-side analysts forecast that Starbucks Co. will post 4.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.19%. This is a boost from Starbucks’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, November 9th. Starbucks’s payout ratio is presently 63.69%.

Analyst Upgrades and Downgrades

Several research firms have commented on SBUX. Barclays cut their price objective on Starbucks from $123.00 to $116.00 and set an “overweight” rating for the company in a research note on Monday, October 23rd. Stephens restated an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a report on Wednesday, August 2nd. Wedbush upped their target price on shares of Starbucks from $100.00 to $106.00 and gave the stock a “neutral” rating in a report on Monday, November 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Starbucks in a research note on Thursday, October 19th. They issued a “buy” rating and a $118.00 price target on the stock. Finally, Morgan Stanley dropped their price objective on shares of Starbucks from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 11th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.52.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 504 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $105.66, for a total transaction of $53,252.64. Following the completion of the transaction, the chief financial officer now directly owns 75,027 shares of the company’s stock, valued at $7,927,352.82. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Starbucks news, insider Michael Aaron Conway sold 6,500 shares of Starbucks stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $104.77, for a total transaction of $681,005.00. Following the completion of the sale, the insider now directly owns 72,822 shares of the company’s stock, valued at approximately $7,629,560.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rachel Ruggeri sold 504 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $105.66, for a total value of $53,252.64. Following the completion of the transaction, the chief financial officer now owns 75,027 shares in the company, valued at approximately $7,927,352.82. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.