Beacon Pointe Advisors LLC Acquires Shares of 127,962 Starbucks Corporation $SBUX

Beacon Pointe Advisors LLC acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 127,962 shares of the coffee company's stock, valued at approximately $13,076,000.

A number of other large investors have also modified their holdings of the stock. Cornerstone Financial Management LLC acquired a new position in Starbucks in the 4th quarter worth $25,000. Phillip James Consulting Co. acquired a new stake in shares of Starbucks during the fourth quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Starbucks during the second quarter worth about $25,000. Entrust Financial LLC acquired a new position in shares of Starbucks in the fourth quarter worth about $26,000. Finally, Tucker Asset Management LLC acquired a new position in shares of Starbucks in the fourth quarter worth about $27,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SBUX shares. Needham & Company LLC set a $120.00 price objective on Starbucks in a research note on Tuesday, August 18th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $115.00 target price (up from $110.00) on shares of Starbucks in a research report on Thursday, July 30th. Melius Research set a $110.00 price target on shares of Starbucks in a research report on Monday, August 3rd. TD Cowen restated a "buy" rating on shares of Starbucks in a research note on Tuesday, August 18th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Starbucks in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $110.30.

Starbucks Price Performance

NASDAQ:SBUX opened at $107.85 on Friday. The firm has a market capitalization of $122.95 billion, a P/E ratio of 61.98, a P/E/G ratio of 1.85 and a beta of 0.97. The business has a 50 day simple moving average of $105.10 and a 200 day simple moving average of $100.78. Starbucks Corporation has a 12-month low of $77.99 and a 12-month high of $110.51.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its earnings results on Wednesday, July 29th. The coffee company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.19. The company had revenue of $9.32 billion for the quarter, compared to analysts' expectations of $9.17 billion. Starbucks had a negative return on equity of 34.10% and a net margin of 5.17%.The firm's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share. 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 fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.3%. Starbucks's dividend payout ratio is presently 142.53%.

Insider Activity

In related news, CEO Brady Brewer sold 2,229 shares of Starbucks stock in a transaction dated Wednesday, August 5th. The shares were 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 $7,963,558.65. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,687 shares of company stock valued at $681,663 over the last ninety days. Corporate insiders own 0.03% of the company's stock.

About Starbucks

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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX - Free Report).

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