Fifth Third Bancorp Grows Holdings in Starbucks Corporation $SBUX

Fifth Third Bancorp grew its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 91.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 452,354 shares of the coffee company's stock after purchasing an additional 215,737 shares during the quarter. Fifth Third Bancorp's holdings in Starbucks were worth $40,526,000 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 the company. Vanguard Group Inc. lifted its stake in shares of Starbucks by 0.9% during 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 in the last quarter. Capital World Investors increased its stake in Starbucks by 9.0% in the 4th quarter. Capital World Investors now owns 84,727,405 shares of the coffee company's stock worth $7,135,228,000 after buying an additional 7,007,268 shares in the last quarter. State Street Corp increased its stake in Starbucks by 0.7% in the 4th quarter. State Street Corp now owns 47,869,056 shares of the coffee company's stock worth $4,031,053,000 after buying an additional 327,161 shares in the last quarter. Geode Capital Management LLC raised its holdings in Starbucks by 0.9% during 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 period. Finally, T. Rowe Price Investment Management Inc. raised its holdings in Starbucks by 65.9% during 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 period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks News Summary

Here are the key news stories impacting Starbucks this week:

• Positive Sentiment: Starbucks’ AI-driven software overhaul could materially reduce operating expenses by replacing Microsoft and IBM systems, supporting future margin expansion. Starbucks Builds Sovereign AI to Cut $400 Million in Software Costs
• Positive Sentiment: The company’s recent earnings beat and revenue growth reinforce the view that its turnaround efforts are gaining traction. Starbucks earnings report
• Neutral Sentiment: Starbucks added five new Orange Cream drinks for summer, which may help traffic and seasonal sales but is not a major fundamental catalyst on its own. Starbucks adds 5 new Orange Cream drinks for summer
• Neutral Sentiment: CEO Brady Brewer sold shares under a pre-arranged trading plan, which can prompt caution but does not necessarily signal a change in the business outlook. SEC Form 4 filing

Insider Transactions at Starbucks

In related news, EVP Sara Kelly sold 2,000 shares of Starbucks stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $105.00, for a total value of $210,000.00. Following the completion of the transaction, the executive vice president owned 57,653 shares in the company, valued at approximately $6,053,565. This trade represents a 3.35% decrease in their ownership of the stock. 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, CEO Brady Brewer sold 2,229 shares of the company's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $104.00, for a total value of $231,816.00. Following the sale, the chief executive officer owned 77,364 shares in the company, valued at approximately $8,045,856. This trade represents a 2.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 9,275 shares of company stock worth $947,833. Insiders own 0.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. BTIG Research lowered Starbucks from a "buy" rating to a "neutral" rating in a research note on Thursday, May 14th. Citigroup lifted their target price on Starbucks from $99.00 to $101.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Stephens initiated coverage on Starbucks in a report on Thursday, May 14th. They issued an "overweight" rating on the stock. Stifel Nicolaus set a $117.00 price target on Starbucks and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, Robert W. Baird increased their price objective on shares of Starbucks from $112.00 to $117.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Nineteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $108.92.

Starbucks Stock Performance

NASDAQ:SBUX opened at $106.01 on Monday. Starbucks Corporation has a 12 month low of $77.99 and a 12 month high of $108.88. The business's 50-day moving average is $102.43 and its 200 day moving average is $97.15. The company has a market capitalization of $120.82 billion, a P/E ratio of 80.31, a P/E/G ratio of 2.11 and a beta of 0.98.

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

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 14th. Starbucks's dividend payout ratio (DPR) is presently 187.88%.

Starbucks 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.

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