Glenview Trust Co Sells 25,438 Shares of Starbucks Corporation $SBUX

Key Points

• Glenview Trust Co reduced its Starbucks stake by 25.6% in the fourth quarter, selling 25,438 shares and leaving it with 74,088 shares valued at about $6.24 million.
• Starbucks reported stronger-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.
• The company also declared a quarterly dividend of $0.62 per share, implying a 2.4% yield, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $107.48.

Glenview Trust Co trimmed its position in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 25.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,088 shares of the coffee company's stock after selling 25,438 shares during the period. Glenview Trust Co's holdings in Starbucks were worth $6,239,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Collier Financial bought a new stake in Starbucks during the third quarter valued at about $25,000. Rachor Investment Advisory Services LLC bought a new stake in Starbucks during the fourth quarter valued at about $25,000. Y.D. More Investments Ltd bought a new stake in Starbucks during the third quarter valued at about $26,000. Entrust Financial LLC bought a new stake in Starbucks during the fourth quarter valued at about $26,000. Finally, JPL Wealth Management LLC bought a new stake in Starbucks during the third quarter valued at about $27,000. 72.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Brady Brewer sold 2,229 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $104.81, for a total value of $233,621.49. Following the completion of the transaction, the chief executive officer owned 81,559 shares of the company's stock, valued at $8,548,198.79. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sara Kelly sold 2,500 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $97.12, for a total transaction of $242,800.00. Following the completion of the transaction, the executive vice president directly owned 59,609 shares of the company's stock, valued at $5,789,226.08. This trade represents a 4.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,187 shares of company stock valued at $1,111,085 in the last three months. Company insiders own 0.03% of the company's stock.

Starbucks Stock Performance

Shares of SBUX opened at $103.11 on Tuesday. The company has a 50-day simple moving average of $98.71 and a 200-day simple moving average of $93.35. The firm has a market capitalization of $117.51 billion, a P/E ratio of 78.11, a P/E/G ratio of 2.08 and a beta of 1.01. Starbucks Corporation has a 52 week low of $77.99 and a 52 week high of $108.88.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The coffee company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.06. Starbucks had a net margin of 3.89% and a negative return on equity of 29.24%. The business had revenue of $9.53 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The firm'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. As a group, equities analysts forecast that Starbucks Corporation will post 2.42 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, May 15th. Starbucks's dividend payout ratio is 187.88%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SBUX shares. Tigress Financial started coverage on shares of Starbucks in a report on Wednesday, April 15th. They set a "buy" rating and a $122.00 price target for the company. New Street Research set a $90.00 price objective on shares of Starbucks in a research report on Tuesday, January 27th. DA Davidson upped their price objective on shares of Starbucks from $97.00 to $102.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Barclays set a $116.00 price objective on shares of Starbucks and gave the company an "overweight" rating in a research report on Friday, January 30th. Finally, Morgan Stanley raised shares of Starbucks from an "overweight" rating to an "overweight" rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.48.

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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