Starbucks Corporation $SBUX Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management Holding SA trimmed its Starbucks stake by 2.0% in Q1, selling 10,316 shares and ending with 494,554 shares worth about $44.3 million.
• Starbucks insiders also sold shares recently, including CEO Brady Brewer and EVP Sara Kelly; overall, insiders sold 8,687 shares worth $863,707 in the last quarter.
• Starbucks reported better-than-expected quarterly results, with EPS of $0.50 versus $0.44 expected and revenue of $9.53 billion, while Wall Street currently rates the stock a Moderate Buy with a consensus target of $108.92.

Pictet Asset Management Holding SA decreased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 494,554 shares of the coffee company's stock after selling 10,316 shares during the quarter. Pictet Asset Management Holding SA's holdings in Starbucks were worth $44,307,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after acquiring an additional 81,952 shares in the last quarter. Schnieders Capital Management LLC. grew its position in Starbucks by 47.0% in the second quarter. Schnieders Capital Management LLC. now owns 3,642 shares of the coffee company's stock valued at $334,000 after acquiring an additional 1,164 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of Starbucks during the second quarter valued at approximately $288,000. Gamco Investors INC. ET AL lifted its position in shares of Starbucks by 92.8% during the second quarter. Gamco Investors INC. ET AL now owns 5,225 shares of the coffee company's stock worth $479,000 after purchasing an additional 2,515 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Starbucks by 7.6% during the second quarter. NewEdge Advisors LLC now owns 112,710 shares of the coffee company's stock worth $10,328,000 after purchasing an additional 7,978 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Brady Brewer sold 588 shares of the stock in a transaction dated 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 owned 79,593 shares in the company, valued at $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 Securities & Exchange Commission, 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 Starbucks stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $105.00, for a total value of $210,000.00. Following the completion of the transaction, the executive vice president owned 57,653 shares of the company's stock, valued at approximately $6,053,565. The trade was a 3.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 8,687 shares of company stock worth $863,707. 0.03% of the stock is owned by company insiders.

Starbucks Trading Down 1.8%

Shares of NASDAQ SBUX opened at $102.19 on Wednesday. The company has a market capitalization of $116.47 billion, a price-to-earnings ratio of 77.42, a price-to-earnings-growth ratio of 2.07 and a beta of 0.98. Starbucks Corporation has a twelve month low of $77.99 and a twelve month high of $108.88. The business has a 50 day simple moving average of $101.65 and a 200-day simple moving average of $96.13.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Starbucks from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Starbucks in a report on Wednesday, March 4th. Wolfe Research initiated coverage on shares of Starbucks in a research report on Monday, March 9th. They issued a "peer perform" rating for the company. Citigroup raised their target price on Starbucks from $99.00 to $101.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $115.00 target price (up from $110.00) on shares of Starbucks in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $108.92.

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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