Starbucks Corporation $SBUX Shares Purchased by Allstate Corp

Key Points

• Allstate Corp more than doubled its Starbucks stake in the fourth quarter, buying an additional 43,041 shares and bringing its total holding to 84,304 shares worth about $7.1 million.
• Starbucks reported strong quarterly results, with EPS of $0.50 beating estimates of $0.44 and revenue of $9.53 billion topping expectations. Revenue rose 8.8% year over year, and the company reaffirmed FY2026 EPS guidance of 2.25 to 2.45.
• The company also announced a quarterly dividend of $0.62 per share, payable May 29, implying an annualized yield of about 2.4%. Meanwhile, analysts remain mixed but overall rate the stock a Moderate Buy with an average price target of $107.48.

Allstate Corp raised its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 104.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 84,304 shares of the coffee company's stock after purchasing an additional 43,041 shares during the period. Allstate Corp's holdings in Starbucks were worth $7,099,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SBUX. Collier Financial bought a new stake in shares of Starbucks during the 3rd quarter valued at about $25,000. Rachor Investment Advisory Services LLC bought a new stake in shares of Starbucks during the 4th quarter valued at about $25,000. Y.D. More Investments Ltd bought a new stake in shares of Starbucks during the 3rd quarter valued at about $26,000. Entrust Financial LLC bought a new stake in shares of Starbucks during the 4th quarter valued at about $26,000. Finally, JPL Wealth Management LLC acquired a new position in Starbucks during the 3rd quarter valued at about $27,000. Institutional investors own 72.29% of the company's stock.

Starbucks Stock Performance

Starbucks stock opened at $101.42 on Wednesday. The firm has a market cap of $115.59 billion, a PE ratio of 76.83, a P/E/G ratio of 2.08 and a beta of 1.01. The firm's 50 day moving average price is $98.75 and its two-hundred day moving average price is $93.48. Starbucks Corporation has a twelve month low of $77.99 and a twelve month high of $108.88.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The coffee company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. Starbucks had a net margin of 3.89% and a negative return on equity of 29.24%. The firm had revenue of $9.53 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the prior year, the business earned $0.41 EPS. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. Starbucks has set its FY 2026 guidance at 2.250-2.450 EPS. Equities analysts anticipate that Starbucks Corporation will post 2.42 EPS for the current fiscal year.

Starbucks Announces Dividend

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

Key Headlines Impacting Starbucks

Here are the key news stories impacting Starbucks this week:

• Neutral Sentiment: Market commentary noted consumer stocks were mixed late in the session, offering little clear sector-level support for Starbucks. Sector Update: Consumer Stocks Mixed Late Afternoon
• Neutral Sentiment: Restaurant sales have continued to rise despite high gasoline prices, which could support traffic trends for Starbucks, though the article is broader and not specific to the company. Restaurant Sales Surge Amid High Gasoline Prices: 3 Stocks to Buy
• Neutral Sentiment: One article highlighted Starbucks’ year-to-date gains and a consumer partnership tied to turnaround optimism, but it is more promotional than fundamental and less likely to drive the stock today. Starbucks Stock is Up YTD – Thank a Kardashian
• Negative Sentiment: Starbucks is ending its AI inventory program across North American stores, signaling that a recent automation initiative failed to deliver as expected and raising concerns about the company’s technology strategy. Starbucks sees sharp drop in Korean sales after 'Tank Day' marketing backlash
• Negative Sentiment: Backlash in South Korea over the controversial “Tank Day” campaign is reportedly causing a sharp drop in sales, adding pressure on Starbucks’ international growth story. Starbucks sees sharp drop in Korean sales after 'Tank Day' marketing backlash
• Negative Sentiment: Multiple outlets framed the AI shutdown as a bearish signal for SBUX, reinforcing the market’s concern that Starbucks’ turnaround may be encountering execution problems. As Other Companies Double Down on AI, Starbucks Is Jumping Ship. What It Means for SBUX Stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Robert W. Baird boosted their target price on shares of Starbucks from $112.00 to $117.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. UBS Group lowered shares of Starbucks from a "neutral" rating to a "neutral" rating in a research note on Thursday, May 14th. BTIG Research lowered shares of Starbucks from a "buy" rating to a "neutral" rating in a research note on Thursday, May 14th. Barclays set a $116.00 target price on shares of Starbucks and gave the company an "overweight" rating in a research note on Friday, January 30th. Finally, Citigroup increased their target price on shares of Starbucks from $99.00 to $101.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $107.48.

Insider Buying and Selling at Starbucks

In other news, EVP Sara Kelly sold 2,500 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $97.12, for a total transaction of $242,800.00. Following the transaction, the executive vice president owned 59,609 shares in the company, valued at $5,789,226.08. This represents a 4.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brady Brewer sold 2,229 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $104.81, for a total transaction of $233,621.49. Following the sale, the chief executive officer directly owned 81,559 shares of the company's stock, valued at approximately $8,548,198.79. This represents a 2.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 11,187 shares of company stock worth $1,111,085. 0.03% of the stock is currently owned by company insiders.

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.