Daiwa Securities Group Inc. Purchases 18,861 Shares of Starbucks Corporation $SBUX

Key Points

• Daiwa Securities increased its Starbucks stake by 6.2% in the second quarter, buying 18,861 shares to hold 324,620 shares valued at approximately $33.2 million. Institutional investors collectively own 72.29% of Starbucks.
• CEO Brady Brewer sold 2,229 shares for about $236,000 under a pre-arranged Rule 10b5-1 plan; insiders have sold 6,687 shares worth roughly $681,700 over the past 90 days.
• Starbucks beat quarterly earnings expectations with $0.85 EPS and $9.32 billion in revenue, while analysts maintain a consensus “Hold” rating and an average price target of $110.30. The company also declared a quarterly dividend of $0.62 per share, representing a 2.4% yield.

Daiwa Securities Group Inc. raised its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 324,620 shares of the coffee company's stock after buying an additional 18,861 shares during the period. Daiwa Securities Group Inc.'s holdings in Starbucks were worth $33,173,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Rachor Investment Advisory Services LLC purchased a new stake in shares of Starbucks during the fourth quarter worth about $25,000. Cornerstone Financial Management LLC purchased a new position in Starbucks during the 4th quarter valued at about $25,000. Phillip James Consulting Co. bought a new position in Starbucks during the 4th quarter valued at approximately $25,000. Entrust Financial LLC purchased a new stake in Starbucks in the 4th quarter worth approximately $26,000. Finally, Tucker Asset Management LLC purchased a new stake in Starbucks in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Insider Buying and Selling at Starbucks

In related news, CEO Brady Brewer sold 2,229 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.99, for a total value of $236,251.71. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,687 shares of company stock worth $681,663 over the last ninety days. 0.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Starbucks from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Piper Sandler reaffirmed an "overweight" rating and issued a $110.00 target price on shares of Starbucks in a research report on Wednesday, April 29th. Stifel Nicolaus set a $117.00 target price on Starbucks and gave the company a "buy" rating in a research note on Wednesday, May 6th. Stephens began coverage on Starbucks in a research report on Thursday, May 14th. They set an "overweight" rating on the stock. Finally, TD Cowen reiterated a "buy" rating on shares of Starbucks in a report on Tuesday. Nineteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $110.30.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $104.98 on Thursday. The business has a fifty day moving average price of $104.33 and a 200-day moving average price of $100.23. The company has a market capitalization of $119.68 billion, a PE ratio of 60.33, a PEG ratio of 1.83 and a beta of 0.97. Starbucks Corporation has a 1-year low of $77.99 and a 1-year high of $110.51.

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 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 net margin of 5.17% and a negative return on equity of 34.10%. Starbucks's revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 EPS. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. On average, sell-side analysts anticipate that Starbucks Corporation will post 2.64 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors 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 annualized dividend and a dividend yield of 2.4%. Starbucks's dividend payout ratio (DPR) is 142.53%.

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