Starbucks Corporation $SBUX Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. cut its Starbucks stake by 25.2% in the first quarter, selling 183,448 shares and leaving it with 545,175 shares valued at about $48.8 million.
• Several insiders also sold stock recently, including CEO Brady Brewer and EVP Sara Kelly, while insiders collectively sold 8,687 shares over the last 90 days.
• Starbucks reported stronger-than-expected quarterly results, with EPS of $0.50 and revenue of $9.53 billion, and analysts currently rate the stock a Moderate Buy with a consensus price target of $108.59.

Assenagon Asset Management S.A. lessened its stake in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 25.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 545,175 shares of the coffee company's stock after selling 183,448 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Starbucks were worth $48,842,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Starbucks by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 114,410,675 shares of the coffee company's stock worth $9,634,523,000 after purchasing an additional 971,773 shares during the period. Capital Research Global Investors increased its position in shares of Starbucks by 11.4% in the third quarter. Capital Research Global Investors now owns 85,460,350 shares of the coffee company's stock worth $7,229,968,000 after acquiring an additional 8,774,198 shares in the last quarter. Capital World Investors grew its holdings in shares of Starbucks by 9.0% during the fourth quarter. Capital World Investors now owns 84,727,405 shares of the coffee company's stock valued at $7,135,228,000 after buying an additional 7,007,268 shares in the last quarter. State Street Corp grew its stake in Starbucks by 0.7% in the fourth quarter. State Street Corp now owns 47,869,056 shares of the coffee company's stock valued at $4,031,053,000 after purchasing an additional 327,161 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Starbucks by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 26,373,084 shares of the coffee company's stock valued at $2,212,153,000 after acquiring an additional 225,168 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Insider Transactions at Starbucks

In other Starbucks news, CEO Brady Brewer sold 588 shares of the company's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $100.00, for a total transaction of $58,800.00. Following the sale, the chief executive officer directly owned 79,593 shares of the company's stock, valued at approximately $7,959,300. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sara Kelly sold 2,000 shares of the firm's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $105.00, for a total transaction of $210,000.00. Following the completion of the sale, the executive vice president owned 57,653 shares of the company's stock, valued at $6,053,565. This trade 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 ninety days, insiders sold 8,687 shares of company stock worth $863,707. 0.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SBUX shares. Dbs Bank raised Starbucks from a "strong sell" rating to a "moderate sell" rating in a research report on Friday, March 20th. Citigroup boosted their price target on Starbucks from $99.00 to $101.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. The Goldman Sachs Group downgraded shares of Starbucks from a "neutral" rating to a "neutral" rating in a report on Thursday, May 14th. BNP Paribas Exane assumed coverage on shares of Starbucks in a research report on Thursday, May 14th. They issued an "underperform" rating on the stock. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Starbucks in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $108.59.

Key Stories Impacting Starbucks

Here are the key news stories impacting Starbucks this week:

• Positive Sentiment: Analyst coverage highlighted a potential turnaround in comps and operating income, suggesting Starbucks could be improving profitability as its “Back to Starbucks” strategy gains traction. Starbucks: Comps Turnaround And Operating Income Surge (Upgrade)
• Positive Sentiment: Starbucks is leaning on delivery growth to support U.S. comparable sales, with rising transactions and broader access potentially helping make recent momentum more durable. Can Starbucks Turn Delivery Momentum Into Durable U.S. Comp Growth?
• Positive Sentiment: Starbucks expanded its coffeehouse coach program after early success, which may support store execution, employee engagement, and customer experience. Starbucks expands coffeehouse coach program after early success
• Neutral Sentiment: Starbucks remains a highly watched stock among traders, reflecting continued interest in the company’s turnaround story rather than a clear new fundamental catalyst. Here is What to Know Beyond Why Starbucks Corporation (SBUX) is a Trending Stock
• Neutral Sentiment: The company’s pilot to incorporate employee TikToks is generating curiosity, but it is still an unproven marketing experiment and could help or hurt brand perception depending on execution. Starbucks pilots TikTok program for boosting employee-generated content
• Negative Sentiment: One market report said Starbucks stock slipped as investors questioned whether the TikTok strategy will translate into meaningful business results. Starbucks Stock NASDAQ: SBUX Slips as Starbucks Looks to Incorporate Employee TikToks

Starbucks Stock Down 0.4%

Shares of NASDAQ:SBUX opened at $103.16 on Friday. The firm has a market cap of $117.57 billion, a price-to-earnings ratio of 78.15, a PEG ratio of 2.06 and a beta of 0.98. The company's fifty day simple moving average is $101.37 and its 200 day simple moving average is $95.70. Starbucks Corporation has a 12 month low of $77.99 and a 12 month high of $108.88.

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

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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX - Free Report).

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.