Starbucks Corporation $SBUX Shares Sold by SVB Wealth LLC

Key Points

• SVB Wealth LLC cut its Starbucks stake by 42.1% in the fourth quarter, leaving it with 19,137 shares valued at about $1.61 million.
• Starbucks reported better-than-expected quarterly results, posting $0.50 EPS versus the $0.44 estimate on revenue of $9.53 billion, up 8.8% year over year.
• The company also announced a quarterly dividend of $0.62 per share, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $107.

SVB Wealth LLC lessened its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 42.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 19,137 shares of the coffee company's stock after selling 13,923 shares during the period. SVB Wealth LLC's holdings in Starbucks were worth $1,612,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Collier Financial acquired a new stake in shares of Starbucks in the third quarter valued at about $25,000. Rachor Investment Advisory Services LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $25,000. Y.D. More Investments Ltd acquired a new stake in shares of Starbucks in the third quarter valued at about $26,000. JPL Wealth Management LLC acquired a new stake in shares of Starbucks in the third quarter valued at about $27,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of Starbucks in the third quarter valued at about $27,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Insider Transactions at Starbucks

In other news, EVP Sara Kelly sold 2,000 shares of Starbucks 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 directly owned 57,653 shares in the company, valued at $6,053,565. The trade was a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 transaction of $233,621.49. Following the sale, the chief executive officer owned 81,559 shares of the company's stock, valued at approximately $8,548,198.79. This trade 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. Over the last quarter, insiders have sold 11,187 shares of company stock valued at $1,111,085. Insiders own 0.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SBUX shares. Wolfe Research started coverage on shares of Starbucks in a research note on Monday, March 9th. They issued a "peer perform" rating for the company. Morgan Stanley raised their price objective on shares of Starbucks from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Starbucks in a research note on Wednesday, April 29th. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of Starbucks in a research report on Wednesday, March 4th. Sixteen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $107.00.

Starbucks Trading Up 0.8%

Shares of SBUX opened at $105.74 on Tuesday. The stock has a market cap of $120.51 billion, a P/E ratio of 80.11, a PEG ratio of 2.12 and a beta of 1.01. The company has a 50-day moving average of $97.36 and a two-hundred day moving average of $91.82. Starbucks Corporation has a 12-month low of $77.99 and a 12-month high of $108.04.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued 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. The business had revenue of $9.53 billion during the quarter, compared to the consensus estimate of $9.17 billion. Starbucks had a net margin of 3.89% and a negative return on equity of 29.24%. The company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 earnings per share. Starbucks has set its FY 2026 guidance at 2.250-2.450 EPS. As a group, analysts forecast that Starbucks Corporation will post 2.41 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, May 15th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.3%. Starbucks's payout ratio is 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.

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