Moore Capital Management LP Sells 11,081 Shares of Starbucks Corporation $SBUX

Key Points

• Moore Capital Management cut its Starbucks stake by 40.8% in the second quarter, selling 11,081 shares and retaining 16,105 shares valued at approximately $1.65 million. Institutional investors and hedge funds own 72.29% of Starbucks stock.
• Starbucks exceeded quarterly expectations with earnings of $0.85 per share versus the $0.66 consensus and revenue of $9.32 billion, although revenue declined 1.4% year over year. Shares opened at $106.25, near their 52-week high of $110.51.
• The company paid a quarterly dividend of $0.62 per share, equivalent to a 2.3% yield, while analysts maintain a consensus “Hold” rating and an average price target of $110.30.

Moore Capital Management LP trimmed its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 40.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,105 shares of the coffee company's stock after selling 11,081 shares during the quarter. Moore Capital Management LP's holdings in Starbucks were worth $1,646,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cornerstone Financial Management LLC acquired a new position in shares of Starbucks during the 4th quarter worth $25,000. Phillip James Consulting Co. purchased a new stake in Starbucks in the 4th quarter valued at about $25,000. Meeder Asset Management Inc. purchased a new position in Starbucks in the second quarter valued at approximately $25,000. Entrust Financial LLC bought a new position in shares of Starbucks in the fourth quarter worth $26,000. Finally, Tucker Asset Management LLC purchased a new position in shares of Starbucks during the fourth quarter worth about $27,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In related 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 transaction, the chief executive officer directly owned 75,135 shares of the company's stock, valued at $7,963,558.65. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 6,687 shares of company stock worth $681,663. 0.03% of the stock is currently owned by insiders.

Starbucks Trading Down 1.5%

NASDAQ SBUX opened at $106.25 on Tuesday. The stock has a fifty day simple moving average of $105.22 and a 200-day simple moving average of $100.86. The stock has a market cap of $121.12 billion, a PE ratio of 61.06, a P/E/G 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 posted its quarterly earnings data on Wednesday, July 29th. The coffee company reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.19. The firm 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 firm's quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $0.50 EPS. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. Research analysts predict that Starbucks Corporation will post 2.64 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, August 14th. Starbucks's dividend payout ratio is currently 142.53%.

Wall Street Analyst Weigh In

SBUX has been the topic of several research analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Starbucks in a research note on Monday, July 20th. BNP Paribas Exane upped their price target on shares of Starbucks from $87.00 to $92.00 and gave the company an "underperform" rating in a research note on Thursday, July 30th. Sanford C. Bernstein cut Starbucks from an "outperform" rating to a "market perform" rating in a report on Monday, August 3rd. Needham & Company LLC set a $120.00 price target on shares of Starbucks in a report on Tuesday, August 18th. Finally, Compass Point initiated coverage on Starbucks in a research report on Monday, August 3rd. They issued a "buy" rating on the stock. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, Starbucks has an average rating of "Hold" and an average target price of $110.30.

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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