Glenview Trust Co Makes New $6.34 Million Investment in Starbucks Corporation $SBUX

Key Points

• Glenview Trust Co. purchased 62,089 Starbucks shares during the second quarter, valued at approximately $6.34 million. Institutional investors and hedge funds collectively own 72.29% of SBUX.
• Starbucks beat quarterly expectations with adjusted EPS of $0.85 versus the $0.66 consensus and revenue of $9.32 billion, although sales declined 1.4% year over year.
• SBUX traded at $107.26, near its 12-month high, while analysts maintained a consensus “Hold” rating and an average price target of $110.30. The company also announced a quarterly dividend of $0.62 per share, equating to a 2.3% yield.

Glenview Trust Co bought a new position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 62,089 shares of the coffee company's stock, valued at approximately $6,345,000.

Several other hedge funds have also added to or reduced their stakes in SBUX. Capital World Investors lifted its holdings in shares of Starbucks by 9.0% during the fourth 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. BlackRock Inc. bought a new stake in shares of Starbucks in the second quarter valued at about $8,504,509,000. State Street Corp grew its stake in shares of Starbucks by 0.7% in the fourth 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 grew its stake in shares of Starbucks by 0.9% in 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 in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position 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 worth $1,637,704,000 after acquiring an additional 7,725,547 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 1.1%

SBUX stock opened at $107.26 on Friday. Starbucks Corporation has a 12 month low of $77.99 and a 12 month high of $110.51. The firm has a market cap of $122.28 billion, a P/E ratio of 61.64, a P/E/G ratio of 1.87 and a beta of 0.97. The company's 50-day moving average price is $104.95 and its two-hundred day moving average price is $100.73.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Wednesday, July 29th. The coffee company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.66 by $0.19. The company had revenue of $9.32 billion during 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%. The business's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 EPS. 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. Shareholders of record on Friday, August 14th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, August 14th. Starbucks's payout ratio is currently 142.53%.

Insiders Place Their Bets

In other Starbucks 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 transaction 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 ownership of the stock. The transaction was disclosed in a document filed 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 sold 6,687 shares of company stock worth $681,663 in the last three months. 0.03% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Stephens began coverage on shares of Starbucks in a research report on Thursday, May 14th. They set an "overweight" rating on the stock. Wedbush assumed coverage on shares of Starbucks in a research report on Thursday, May 14th. They issued an "outperform" rating for the company. Stifel Nicolaus set a $117.00 price target on Starbucks and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Compass Point began coverage on Starbucks in a research note on Monday, August 3rd. They set a "buy" rating on the stock. Finally, TD Cowen reaffirmed a "buy" rating on shares of Starbucks in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $110.30.

Trending Headlines about Starbucks

Here are the key news stories impacting Starbucks this week:

• Positive Sentiment: Analyst upgrade: Robert W. Baird upgraded Starbucks to “strong buy,” signaling confidence in the company’s turnaround prospects and potentially supporting investor sentiment. Zacks report
• Positive Sentiment: Fall menu and marketing: Starbucks launched its seasonal menu, including the Pumpkin Spice Latte, supported by advertising featuring Martha Stewart. The promotion could drive customer traffic and strengthen seasonal sales. Starbucks launches fall menu Pumpkin Spice Latte advertising
• Positive Sentiment: Property transactions: A corporate Starbucks drive-thru in Jacksonville, Florida, was included in a $6.9 million pair of net-lease deals. While not a material financial event for Starbucks, the transaction highlights ongoing investor demand for Starbucks-occupied properties. Starbucks net-lease transaction
• Neutral Sentiment: Valuation and operating backdrop: Starbucks recently exceeded quarterly earnings and revenue expectations, but revenue declined year over year. With a relatively high earnings multiple, investors may require sustained improvement from the company’s turnaround plan.
• Negative Sentiment: Union-led boycott: Starbucks Workers United called for a boycott tied to stalled contract negotiations, seeking $17 hourly wages and a contract covering more than 12,000 baristas. The action presents near-term traffic, sales and reputational risks. Starbucks union boycott
• Negative Sentiment: Consumer caution: Reports questioning whether consumers are rethinking coffee purchases raise concerns about traffic and demand, particularly if customers trade down or reduce premium beverage spending. Consumer caution report
• Negative Sentiment: Turnaround costs: Additional job cuts as Starbucks expands its roughly $2 billion overhaul may pressure near-term morale and execution, even though management expects restructuring to improve efficiency over time. Starbucks job cuts and turnaround

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.

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