Chemung Canal Trust Co. Grows Stake in Starbucks Corporation $SBUX

Key Points

• Chemung Canal Trust Co. boosted its Starbucks stake by 238% in the first quarter, buying 9,586 more shares and bringing its total holding to 13,614 shares valued at about $1.22 million.
• Starbucks reported better-than-expected quarterly results, with EPS of $0.50 versus $0.44 expected and revenue of $9.53 billion, up 8.8% year over year.
• Analysts remain generally constructive on the stock, with an average rating of “Moderate Buy” and a consensus price target of $108.59, while shares recently traded around $104.60.

Chemung Canal Trust Co. lifted its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 238.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,614 shares of the coffee company's stock after buying an additional 9,586 shares during the period. Chemung Canal Trust Co.'s holdings in Starbucks were worth $1,220,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SBUX. MeadowBrook Investment Advisors LLC raised its stake in shares of Starbucks by 3.3% during the first quarter. MeadowBrook Investment Advisors LLC now owns 9,336 shares of the coffee company's stock valued at $836,000 after purchasing an additional 300 shares during the period. Janney Montgomery Scott LLC increased its stake in Starbucks by 83.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 340,211 shares of the coffee company's stock worth $30,480,000 after buying an additional 154,485 shares during the period. Wernau Asset Management Inc. increased its stake in Starbucks by 4.9% during the 1st quarter. Wernau Asset Management Inc. now owns 2,648 shares of the coffee company's stock worth $237,000 after buying an additional 123 shares during the period. Cornerstone Wealth Group LLC lifted its holdings in Starbucks by 12.3% in the 1st quarter. Cornerstone Wealth Group LLC now owns 6,329 shares of the coffee company's stock worth $619,000 after buying an additional 695 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC purchased a new position in Starbucks in the 1st quarter valued at about $210,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Stock Performance

Shares of Starbucks stock opened at $104.60 on Friday. Starbucks Corporation has a 1 year low of $77.99 and a 1 year high of $108.88. The firm's 50-day simple moving average is $101.50 and its 200-day simple moving average is $95.76. The firm has a market cap of $119.21 billion, a PE ratio of 79.24, a price-to-earnings-growth ratio of 2.08 and a beta of 0.98.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The coffee company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.06. The business had revenue of $9.53 billion during the quarter, compared to the consensus estimate of $9.17 billion. Starbucks had a negative return on equity of 29.24% and a net margin of 3.89%.The company's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $0.41 earnings per share. Starbucks has set its FY 2026 guidance at 2.250-2.450 EPS. On average, equities analysts predict that Starbucks Corporation will post 2.4 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Brady Brewer sold 2,229 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $104.81, for a total transaction of $233,621.49. Following the sale, the chief executive officer directly owned 81,559 shares of the company's stock, valued at approximately $8,548,198.79. This represents a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sara Kelly sold 2,000 shares of the firm's stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $105.00, for a total value of $210,000.00. Following the transaction, the executive vice president owned 57,653 shares in the company, valued at $6,053,565. This trade represents a 3.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 8,687 shares of company stock worth $863,707. 0.03% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on SBUX. Royal Bank Of Canada cut Starbucks from a "sector perform" rating to a "positive" rating in a research note on Thursday, May 14th. Piper Sandler restated an "overweight" rating and set a $110.00 price objective on shares of Starbucks in a research note on Wednesday, April 29th. Wolfe Research initiated coverage on Starbucks in a report on Monday, March 9th. They set a "peer perform" rating on the stock. Scotiabank lowered Starbucks from a "market perform" rating to an "underperform" rating in a research report on Thursday, May 14th. Finally, Evercore increased their target price on Starbucks from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $108.59.

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.

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