Benjamin Edwards Inc. lowered its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 53.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,233 shares of the coffee company's stock after selling 48,466 shares during the quarter. Benjamin Edwards Inc.'s holdings in Starbucks were worth $4,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Norges Bank bought a new position in Starbucks during the 4th quarter valued at about $1,232,650,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Starbucks by 65.9% during the 4th 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. Capital World Investors grew its stake in shares of Starbucks by 9.0% in the fourth 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 during the period. Corient Private Wealth LLC grew its stake in shares of Starbucks by 146.6% in the second quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company's stock worth $553,201,000 after acquiring an additional 3,596,014 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Starbucks by 483.8% during the second quarter. Assenagon Asset Management S.A. now owns 3,182,890 shares of the coffee company's stock valued at $325,260,000 after purchasing an additional 2,637,715 shares during the last quarter. 72.29% of the stock is owned by institutional investors.
Insider Activity
In other news, CEO Brady Brewer sold 2,229 shares of the company's 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 $7,963,558.65. This represents a 2.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 6,687 shares of company stock worth $681,663. Insiders own 0.03% of the company's stock.
Starbucks Trading Down 0.8%
SBUX opened at $107.69 on Friday. The company has a market cap of $122.77 billion, a price-to-earnings ratio of 61.89, a PEG ratio of 1.86 and a beta of 0.97. The company's 50 day moving average is $103.78 and its 200 day moving average is $99.97. 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 announced its earnings results on Wednesday, July 29th. The coffee company reported $0.85 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $9.17 billion. During the same period in the previous year, the business posted $0.50 earnings per share. The firm's quarterly revenue 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, analysts predict that Starbucks Corporation will post 2.64 EPS for the current fiscal year.
Starbucks Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.3%. Starbucks's payout ratio is presently 142.53%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Starbucks in a research report on Monday, July 20th. Evercore reiterated an "outperform" rating on shares of Starbucks in a research note on Thursday, July 30th. Guggenheim initiated coverage on Starbucks in a report on Monday, August 3rd. They set a "buy" rating on the stock. Melius Research set a $110.00 price target on Starbucks in a report on Monday, August 3rd. Finally, BMO Capital Markets restated an "outperform" rating and issued a $130.00 price target on shares of Starbucks in a research note on Thursday, July 30th. Nineteen equities research 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's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $109.92.
Check Out Our Latest Report on SBUX
About Starbucks
(
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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