Alyeska Investment Group L.P. bought a new stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,668,315 shares of the coffee company's stock, valued at approximately $170,485,000. Alyeska Investment Group L.P. owned approximately 0.15% of Starbucks at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of SBUX. Flputnam Investment Management Co. purchased a new stake in shares of Starbucks during the 2nd quarter worth approximately $6,567,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Starbucks by 26.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,506,482 shares of the coffee company's stock valued at $869,277,000 after purchasing an additional 1,767,530 shares in the last quarter. New Mexico Educational Retirement Board raised its holdings in Starbucks by 9.1% during the second quarter. New Mexico Educational Retirement Board now owns 56,598 shares of the coffee company's stock worth $5,784,000 after purchasing an additional 4,700 shares during the last quarter. Toth Financial Advisory Corp grew its holdings in Starbucks by 28.2% in the second quarter. Toth Financial Advisory Corp now owns 63,689 shares of the coffee company's stock valued at $6,508,000 after purchasing an additional 14,027 shares during the last quarter. Finally, Mufg Securities Americas Inc. lifted its holdings in shares of Starbucks by 8.9% in the second quarter. Mufg Securities Americas Inc. now owns 34,326 shares of the coffee company's stock valued at $3,508,000 after purchasing an additional 2,801 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Starbucks
In related news, CEO Brady Brewer sold 2,229 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.99, for a total value of $236,251.71. Following the completion of the sale, the chief executive officer directly owned 75,135 shares in the company, valued at approximately $7,963,558.65. This represents a 2.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 6,687 shares of company stock valued at $681,663. 0.03% of the stock is currently owned by corporate insiders.
Starbucks Price Performance
Starbucks stock opened at $107.85 on Friday. The company has a market cap of $122.95 billion, a price-to-earnings ratio of 61.98, a price-to-earnings-growth ratio of 1.86 and a beta of 0.97. Starbucks Corporation has a 12 month low of $77.99 and a 12 month high of $110.51. The stock's 50-day moving average is $105.10 and its 200-day moving average is $100.78.
Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Wednesday, July 29th. The coffee company reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.19. Starbucks had a negative return on equity of 34.10% and a net margin of 5.17%.The business had revenue of $9.32 billion during the quarter, compared to analysts' expectations of $9.17 billion. During the same quarter in the previous year, the business earned $0.50 EPS. The company's revenue for the quarter was down 1.4% on a year-over-year basis. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. Research analysts anticipate that Starbucks Corporation will post 2.64 EPS for the current year.
Starbucks Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, August 14th. Starbucks's dividend payout ratio is 142.53%.
Analyst Upgrades and Downgrades
SBUX has been the subject of a number of recent research reports. Wells Fargo & Company cut Starbucks from an "overweight" rating to an "underweight" rating in a research report on Monday, August 3rd. Scotiabank lowered shares of Starbucks from a "market perform" rating to an "underperform" rating in a report on Thursday, May 14th. Evercore reaffirmed an "outperform" rating on shares of Starbucks in a research note on Thursday, July 30th. Melius Research set a $110.00 price objective on shares of Starbucks in a research note on Monday, August 3rd. Finally, Compass Point assumed coverage on shares of Starbucks in a research report on Monday, August 3rd. They set a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Starbucks currently has an average rating of "Hold" and a consensus target price of $110.30.
Check Out Our Latest Analysis on SBUX
Starbucks Company Profile
(
Free Report)
Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.
Starbucks' core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.
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