Assenagon Asset Management S.A. Has $325.26 Million Stock Position in Starbucks Corporation $SBUX

Key Points

• Assenagon Asset Management increased its Starbucks stake by 483.8% in the second quarter, acquiring 2.64 million additional shares for a total position worth approximately $325.3 million. Institutional investors collectively own 72.29% of Starbucks.
• Starbucks reported quarterly EPS of $0.85, beating estimates of $0.66, while revenue reached $9.32 billion. However, revenue declined 1.4% year over year, and the company guided for fiscal 2026 EPS of $2.55 to $2.65.
• The stock opened at $105.16, near its 52-week high, and analysts have a consensus “Hold” rating with an average price target of $111.96. Starbucks also declared a quarterly dividend of $0.62 per share, representing a 2.4% yield.

Assenagon Asset Management S.A. increased its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 483.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,182,890 shares of the coffee company's stock after purchasing an additional 2,637,715 shares during the period. Assenagon Asset Management S.A. owned approximately 0.28% of Starbucks worth $325,260,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Starbucks by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 114,410,675 shares of the coffee company's stock valued at $9,634,523,000 after buying an additional 971,773 shares during the period. Capital World Investors boosted its position in shares of Starbucks by 9.0% during the 4th quarter. Capital World Investors now owns 84,727,405 shares of the coffee company's stock worth $7,135,228,000 after acquiring an additional 7,007,268 shares in the last quarter. State Street Corp boosted its position in shares of Starbucks by 0.7% during the 4th quarter. State Street Corp now owns 47,869,056 shares of the coffee company's stock worth $4,031,053,000 after acquiring an additional 327,161 shares in the last quarter. Geode Capital Management LLC increased its stake in Starbucks by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 26,373,084 shares of the coffee company's stock valued at $2,212,153,000 after acquiring an additional 225,168 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in Starbucks by 65.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 19,447,854 shares of the coffee company's stock valued at $1,637,704,000 after acquiring an additional 7,725,547 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Stock Performance

NASDAQ SBUX opened at $105.16 on Friday. The firm's fifty day moving average price is $102.47 and its two-hundred day moving average price is $99.51. The stock has a market cap of $119.88 billion, a PE ratio of 60.44, a PEG ratio of 1.83 and a beta of 0.97. Starbucks Corporation has a fifty-two week low of $77.99 and a fifty-two week high of $109.23.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The coffee company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.19. Starbucks had a net margin of 5.17% and a negative return on equity of 34.10%. The company had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.17 billion. During the same period in the prior year, the business earned $0.50 earnings per share. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. As a group, sell-side analysts predict that Starbucks Corporation will post 2.64 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a $0.62 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.48 annualized dividend and a yield of 2.4%. Starbucks's dividend payout ratio (DPR) is currently 142.53%.

Insider Activity at Starbucks

In other news, CEO Brady Brewer sold 2,229 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.99, for a total transaction of $236,251.71. Following the sale, the chief executive officer directly owned 75,135 shares in the company, valued at approximately $7,963,558.65. The trade was a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,687 shares of company stock worth $681,663 over the last quarter. Company insiders own 0.03% of the company's stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several recent analyst reports. Wells Fargo & Company cut Starbucks from an "overweight" rating to an "underweight" rating in a research note on Monday. UBS Group lifted their price target on Starbucks from $105.00 to $112.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Sanford C. Bernstein cut Starbucks from an "outperform" rating to a "market perform" rating in a report on Monday. Stifel Nicolaus set a $117.00 price objective on Starbucks and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $126.00 price objective on shares of Starbucks in a research note on Thursday, July 30th. Nineteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Starbucks currently has an average rating of "Hold" and a consensus price target of $111.96.

Starbucks Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source