Peapack Gladstone Financial Corp Has $10.88 Million Holdings in Starbucks Corporation $SBUX

Key Points

• Peapack Gladstone Financial Corp cut its Starbucks stake by 10.2% in the fourth quarter, selling 14,686 shares and leaving it with 129,190 shares worth about $10.88 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 72.29% of Starbucks stock. Several large managers added to positions, including Vanguard and Envestnet Asset Management.
• Starbucks reported better-than-expected quarterly results, posting EPS of $0.50 on revenue of $9.53 billion, while analysts currently see a Moderate Buy consensus with an average price target of $107.48.

Peapack Gladstone Financial Corp lessened its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 129,190 shares of the coffee company's stock after selling 14,686 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Starbucks were worth $10,879,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Providence Capital Advisors LLC acquired a new stake in shares of Starbucks in the 3rd quarter valued at about $6,099,000. Vanguard Group Inc. raised its stake in shares of Starbucks by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 113,438,902 shares of the coffee company's stock valued at $9,596,931,000 after purchasing an additional 577,279 shares during the period. Lantz Financial LLC raised its stake in shares of Starbucks by 346.6% in the 3rd quarter. Lantz Financial LLC now owns 17,833 shares of the coffee company's stock valued at $1,509,000 after purchasing an additional 13,840 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Starbucks by 10.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,241,131 shares of the coffee company's stock valued at $358,800,000 after purchasing an additional 405,331 shares during the period. Finally, Compass Wealth Management LLC raised its stake in shares of Starbucks by 33.5% in the 3rd quarter. Compass Wealth Management LLC now owns 79,193 shares of the coffee company's stock valued at $6,700,000 after purchasing an additional 19,877 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

Insider Transactions at Starbucks

In related news, EVP Sara Kelly sold 2,500 shares of Starbucks 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 owned 59,609 shares in the company, valued at approximately $5,789,226.08. This trade represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brady Brewer sold 2,229 shares of Starbucks stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $104.81, for a total value of $233,621.49. Following the transaction, the chief executive officer owned 81,559 shares of the company's stock, valued at $8,548,198.79. The trade was a 2.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,187 shares of company stock valued at $1,111,085 in the last quarter. 0.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SBUX has been the topic of several recent research reports. Royal Bank Of Canada downgraded Starbucks from a "sector perform" rating to a "positive" rating in a research note on Thursday, May 14th. Scotiabank downgraded Starbucks from a "market perform" rating to an "underperform" rating in a research note on Thursday, May 14th. Jefferies Financial Group initiated coverage on Starbucks in a research note on Thursday, May 14th. They issued a "buy" rating on the stock. Guggenheim reissued a "neutral" rating and issued a $97.00 price target (up from $95.00) on shares of Starbucks in a research note on Wednesday, April 29th. Finally, Stifel Nicolaus set a $117.00 price target on Starbucks and gave the company a "buy" rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Starbucks has a consensus rating of "Moderate Buy" and a consensus price target of $107.48.

Starbucks Stock Performance

Starbucks stock opened at $96.51 on Tuesday. Starbucks Corporation has a 52 week low of $77.99 and a 52 week high of $108.88. The stock has a market capitalization of $109.99 billion, a P/E ratio of 73.11, a PEG ratio of 1.95 and a beta of 0.98. The stock has a 50-day simple moving average of $99.04 and a 200 day simple moving average of $93.90.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The coffee company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.06. Starbucks had a negative return on equity of 29.24% and a net margin of 3.89%.The business had revenue of $9.53 billion during the quarter, compared to analysts' expectations of $9.17 billion. During the same quarter last year, the company posted $0.41 earnings per share. Starbucks's quarterly revenue was up 8.8% on a year-over-year basis. Starbucks has set its FY 2026 guidance at 2.250-2.450 EPS. Research analysts forecast that Starbucks Corporation will post 2.42 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $0.62 per share. The ex-dividend date was Friday, May 15th. This represents a $2.48 dividend on an annualized basis and a yield of 2.6%. Starbucks's dividend payout ratio (DPR) is presently 187.88%.

About Starbucks

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.