Kingsview Wealth Management LLC Acquires Shares of 26,574 Starbucks Corporation $SBUX

Key Points

• Kingsview Wealth Management acquired 26,574 Starbucks shares worth approximately $2.7 million in the second quarter, while institutional investors collectively own 72.29% of the stock.
• Starbucks exceeded quarterly expectations, reporting $0.85 in EPS versus the $0.66 consensus and revenue of $9.32 billion, although revenue declined 1.4% year over year.
• Analysts have a consensus “Hold” rating and an average price target of $110.30, compared with the stock’s recent price of $107.85; Starbucks also maintains a quarterly dividend of $0.62 per share, yielding about 2.3%.

Kingsview Wealth Management LLC acquired a new position in Starbucks Corporation (NASDAQ:SBUX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 26,574 shares of the coffee company's stock, valued at approximately $2,716,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Starbucks during the second quarter valued at about $8,504,509,000. Bank of America Corp DE purchased a new stake in Starbucks in the second quarter worth about $1,581,287,000. Norges Bank bought a new stake in Starbucks during the 4th quarter valued at approximately $1,232,650,000. T. Rowe Price Investment Management Inc. boosted its position 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 valued at $1,637,704,000 after acquiring an additional 7,725,547 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Starbucks during the 2nd quarter worth approximately $779,790,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research reports. BNP Paribas Exane increased their target price on Starbucks from $87.00 to $92.00 and gave the stock an "underperform" rating in a research report on Thursday, July 30th. Evercore restated an "outperform" rating on shares of Starbucks in a research report on Thursday, July 30th. UBS Group upped their price target on Starbucks from $105.00 to $112.00 and gave the stock a "neutral" rating in a research note on Thursday, July 30th. Morgan Stanley downgraded Starbucks from an "overweight" rating to an "underweight" rating in a report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $126.00 price objective on shares of Starbucks in a research report on Thursday, July 30th. 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $110.30.

Starbucks Stock Up 0.6%

SBUX stock opened at $107.85 on Friday. The business has a 50 day moving average of $105.10 and a 200 day moving average of $100.78. The firm has a market cap of $122.95 billion, a PE ratio of 61.98, a price-to-earnings-growth ratio of 1.86 and a beta of 0.97. Starbucks Corporation has a twelve month low of $77.99 and a twelve month high of $110.51.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Wednesday, July 29th. The coffee company reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.19. Starbucks had a negative return on equity of 34.10% and a net margin of 5.17%.The firm had revenue of $9.32 billion for the quarter, compared to analysts' expectations of $9.17 billion. During the same period in the prior year, the firm posted $0.50 earnings per share. The company'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. On average, research analysts expect that Starbucks Corporation will post 2.64 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were 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 of this dividend was Friday, August 14th. Starbucks's dividend payout ratio is 142.53%.

Insider Buying and Selling

In other Starbucks news, CEO Brady Brewer sold 2,229 shares of the firm's stock in a transaction dated 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 directly owned 75,135 shares in the company, valued at approximately $7,963,558.65. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 6,687 shares of company stock worth $681,663. Corporate insiders own 0.03% of the company's stock.

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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