Florida Trust Wealth Management Co Has $18.69 Million Holdings in Starbucks Corporation $SBUX

Key Points

• Florida Trust Wealth Management reduced its Starbucks position by 8% in the second quarter, selling 15,941 shares and retaining 182,865 shares valued at approximately $18.69 million.
• Institutional investors and hedge funds own 72.29% of Starbucks, while analyst sentiment is mixed: 19 Buy, 11 Hold, and 4 Sell ratings produce a consensus Hold rating with a $109.92 price target.
• Starbucks exceeded quarterly earnings expectations with $0.85 EPS versus $0.66 forecast and $9.32 billion in revenue, though sales declined 1.4% year over year. The company declared a quarterly dividend of $0.62 per share, representing a 2.3% annualized yield.

Florida Trust Wealth Management Co lessened its holdings in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,865 shares of the coffee company's stock after selling 15,941 shares during the period. Florida Trust Wealth Management Co's holdings in Starbucks were worth $18,687,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Starbucks by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 114,410,675 shares of the coffee company's stock worth $9,634,523,000 after buying an additional 971,773 shares during the last quarter. Capital World Investors increased its holdings in shares of Starbucks by 9.0% during the 4th quarter. Capital World Investors now owns 84,727,405 shares of the coffee company's stock valued at $7,135,228,000 after acquiring an additional 7,007,268 shares during the last quarter. State Street Corp raised its stake in shares of Starbucks by 0.7% in the 4th quarter. State Street Corp now owns 47,869,056 shares of the coffee company's stock valued at $4,031,053,000 after acquiring an additional 327,161 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Starbucks by 0.9% in the 4th 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 in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in Starbucks by 65.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 19,447,854 shares of the coffee company's stock worth $1,637,704,000 after purchasing an additional 7,725,547 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of recent analyst reports. Sanford C. Bernstein cut Starbucks from an "outperform" rating to a "market perform" rating in a research report on Monday, August 3rd. BNP Paribas Exane lifted their price target on shares of Starbucks from $87.00 to $92.00 and gave the company an "underperform" rating in a research report on Thursday, July 30th. Evercore restated an "outperform" rating on shares of Starbucks in a research note on Thursday, July 30th. Raymond James Financial cut shares of Starbucks to an "outperform" rating in a research note on Monday, August 3rd. Finally, Zacks Research downgraded shares of Starbucks from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Nineteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Starbucks presently has a consensus rating of "Hold" and a consensus target price of $109.92.

Insider Transactions at Starbucks

In other news, CEO Brady Brewer sold 2,229 shares of the stock in a transaction 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 owned 75,135 shares in the company, valued at approximately $7,963,558.65. This represents a 2.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 6,687 shares of company stock valued at $681,663. Insiders own 0.03% of the company's stock.

Starbucks Stock Performance

SBUX opened at $107.69 on Monday. The stock has a market capitalization of $122.77 billion, a price-to-earnings ratio of 61.89, a P/E/G ratio of 1.86 and a beta of 0.97. The business has a 50 day moving average of $103.78 and a 200-day moving average of $99.99. 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 posted its quarterly earnings data on Wednesday, July 29th. The coffee company reported $0.85 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The business's 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. Equities analysts predict that Starbucks Corporation will post 2.64 EPS for the current year.

Starbucks Dividend Announcement

The company 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 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 currently 142.53%.

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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