iA Global Asset Management Inc. Boosts Stock Position in Starbucks Corporation $SBUX

Key Points

• iA Global Asset Management increased its Starbucks stake by 78.5% in the second quarter, bringing its holdings to 244,127 shares valued at approximately $24.9 million. Institutional investors collectively own 72.29% of SBUX.
• Starbucks reported quarterly EPS of $0.85, beating the $0.66 consensus estimate, while revenue reached $9.32 billion but declined 1.4% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $110.30.
• The company declared a quarterly dividend of $0.62 per share, equivalent to $2.48 annually and a 2.3% yield; CEO Brady Brewer separately sold 2,229 shares under a pre-arranged trading plan.

iA Global Asset Management Inc. increased its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 78.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 244,127 shares of the coffee company's stock after acquiring an additional 107,386 shares during the quarter. iA Global Asset Management Inc.'s holdings in Starbucks were worth $24,947,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Vanguard Group Inc. raised its position 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 worth $9,634,523,000 after purchasing an additional 971,773 shares during the last quarter. Capital World Investors lifted 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 valued at $7,135,228,000 after buying an additional 7,007,268 shares in the last quarter. State Street Corp boosted its holdings 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 during the last quarter. Geode Capital Management LLC increased its stake in Starbucks by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 26,373,084 shares of the coffee company's stock worth $2,212,153,000 after buying an additional 225,168 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in Starbucks by 65.9% during 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 buying an additional 7,725,547 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several research reports. BTIG Research restated a "buy" rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday, July 31st. Robert W. Baird set a $124.00 price objective on Starbucks in a research note on Thursday, July 30th. Evercore reaffirmed an "outperform" rating on shares of Starbucks in a research note on Thursday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, April 24th. Finally, Melius Research set a $110.00 price target on shares of Starbucks in a research note on Monday, August 3rd. Nineteen investment 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. According to MarketBeat, Starbucks presently has a consensus rating of "Hold" and a consensus target price of $110.30.

Insider Buying and Selling at Starbucks

In other news, CEO Brady Brewer sold 2,229 shares of the firm'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 transaction of $236,251.71. Following the completion of the sale, the chief executive officer owned 75,135 shares in the company, valued at $7,963,558.65. This trade represents a 2.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 6,687 shares of company stock valued at $681,663. Corporate insiders own 0.03% of the company's stock.

Starbucks Stock Down 1.8%

NASDAQ SBUX opened at $106.01 on Wednesday. Starbucks Corporation has a 52 week low of $77.99 and a 52 week high of $110.51. The business's fifty day simple moving average is $104.21 and its 200-day simple moving average is $100.15. The firm has a market cap of $120.85 billion, a PE ratio of 60.93, a P/E/G ratio of 1.86 and a beta of 0.97.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The coffee company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.19. Starbucks had a net margin of 5.17% and a negative return on equity of 34.10%. The firm had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Starbucks's quarterly revenue was down 1.4% on a year-over-year basis. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. Research analysts expect that Starbucks Corporation will post 2.64 EPS for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.3%. Starbucks's dividend payout ratio is 142.53%.

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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