Starbucks Corporation $SBUX Shares Sold by Absher Wealth Management LLC

Absher Wealth Management LLC lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 24.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 273,290 shares of the coffee company's stock after selling 86,937 shares during the period. Starbucks makes up approximately 2.9% of Absher Wealth Management LLC's investment portfolio, making the stock its 23rd largest position. Absher Wealth Management LLC's holdings in Starbucks were worth $24,484,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Starbucks during the fourth quarter worth $1,232,650,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Starbucks by 65.9% in 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 buying an additional 7,725,547 shares during the period. Capital World Investors lifted its stake in Starbucks by 9.0% during the 4th quarter. Capital World Investors now owns 84,727,405 shares of the coffee company's stock worth $7,135,228,000 after acquiring an additional 7,007,268 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Starbucks by 146.6% during the 2nd quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company's stock valued at $553,201,000 after acquiring an additional 3,596,014 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Starbucks by 80.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,105,164 shares of the coffee company's stock valued at $433,923,000 after acquiring an additional 2,277,792 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

Key Starbucks News

Here are the key news stories impacting Starbucks this week:

• Positive Sentiment: Starbucks’ AI-driven software overhaul could materially reduce operating expenses by replacing Microsoft and IBM systems, supporting future margin expansion. Starbucks Builds Sovereign AI to Cut $400 Million in Software Costs
• Positive Sentiment: The company’s recent earnings beat and revenue growth reinforce the view that its turnaround efforts are gaining traction. Starbucks earnings report
• Neutral Sentiment: Starbucks added five new Orange Cream drinks for summer, which may help traffic and seasonal sales but is not a major fundamental catalyst on its own. Starbucks adds 5 new Orange Cream drinks for summer
• Neutral Sentiment: CEO Brady Brewer sold shares under a pre-arranged trading plan, which can prompt caution but does not necessarily signal a change in the business outlook. SEC Form 4 filing

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SBUX. Piper Sandler reiterated an "overweight" rating and set a $110.00 price target on shares of Starbucks in a research note on Wednesday, April 29th. Jefferies Financial Group started coverage on shares of Starbucks in a research note on Thursday, May 14th. They issued a "buy" rating for the company. 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 research note on Friday, April 24th. Scotiabank lowered shares of Starbucks from a "market perform" rating to an "underperform" rating in a report on Thursday, May 14th. Finally, BTIG Research cut shares of Starbucks from a "buy" rating to a "neutral" rating in a research report on Thursday, May 14th. Nineteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Starbucks has an average rating of "Moderate Buy" and a consensus target price of $108.92.

Starbucks Stock Performance

NASDAQ:SBUX opened at $106.01 on Monday. Starbucks Corporation has a 1 year low of $77.99 and a 1 year high of $108.88. The stock has a market cap of $120.82 billion, a P/E ratio of 80.31, a P/E/G ratio of 2.11 and a beta of 0.98. The stock has a 50-day simple moving average of $102.43 and a 200-day simple moving average of $97.15.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Tuesday, April 28th. The coffee company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. The business had revenue of $9.53 billion for the quarter, compared to analyst estimates of $9.17 billion. Starbucks had a negative return on equity of 29.24% and a net margin of 3.89%.The business's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. Starbucks has set its FY 2026 guidance at 2.250-2.450 EPS. On average, equities research analysts predict that Starbucks Corporation will post 2.4 EPS for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a $0.62 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.48 annualized dividend and a dividend yield of 2.3%. Starbucks's dividend payout ratio is presently 187.88%.

Insider Buying and Selling at Starbucks

In related news, CEO Brady Brewer sold 2,229 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $104.00, for a total value of $231,816.00. Following the transaction, the chief executive officer directly owned 77,364 shares of the company's stock, valued at $8,045,856. This trade represents a 2.80% 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. Also, EVP Sara Kelly sold 2,000 shares of Starbucks stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $105.00, for a total transaction of $210,000.00. Following the sale, the executive vice president owned 57,653 shares in the company, valued at $6,053,565. This represents a 3.35% 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 sold 9,275 shares of company stock valued at $947,833. Company 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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