Tortuga Wealth Management Inc Takes Position in Starbucks Corporation $SBUX

Key Points

• Tortuga Wealth Management initiated a Starbucks position during the second quarter, purchasing 12,199 shares valued at approximately $1.25 million. Hedge funds and other institutional investors collectively own 72.29% of the company.
• Analyst sentiment is mixed, with 19 Buy, 11 Hold, and 4 Sell ratings; the consensus rating is Hold with a $110.30 price target. Starbucks shares recently opened at $104.98.
• Starbucks exceeded quarterly expectations with $0.85 in adjusted EPS and $9.32 billion in revenue, though revenue declined 1.4% year over year. The company also declared a quarterly dividend of $0.62 per share, implying a 2.4% yield.

Tortuga Wealth Management Inc bought a new position in Starbucks Corporation (NASDAQ:SBUX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,199 shares of the coffee company's stock, valued at approximately $1,247,000.

Other hedge funds also recently made changes to their positions in the company. Rachor Investment Advisory Services LLC purchased a new position in Starbucks during the 4th quarter valued at approximately $25,000. Phillip James Consulting Co. purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $25,000. Entrust Financial LLC bought a new position in shares of Starbucks during the 4th quarter valued at approximately $26,000. Finally, Financial Freedom LLC boosted its position in shares of Starbucks by 296.2% during the 1st quarter. Financial Freedom LLC now owns 313 shares of the coffee company's stock valued at $28,000 after acquiring an additional 234 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. DA Davidson boosted their price target on shares of Starbucks from $102.00 to $110.00 and gave the stock a "neutral" rating in a research report on Thursday, July 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Starbucks in a research report on Monday, July 20th. Wells Fargo & Company cut shares of Starbucks from an "overweight" rating to an "underweight" rating in a research note on Monday, August 3rd. BTIG Research restated a "buy" rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, July 31st. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $115.00 price target (up from $110.00) on shares of Starbucks in a report on Thursday, July 30th. Nineteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Starbucks has an average rating of "Hold" and a consensus price target of $110.30.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $104.98 on Thursday. The business's 50 day moving average price is $104.33 and its 200-day moving average price is $100.23. Starbucks Corporation has a fifty-two week low of $77.99 and a fifty-two week high of $110.51. The company has a market cap of $119.68 billion, a price-to-earnings ratio of 60.33, a PEG ratio of 1.83 and a beta of 0.97.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The coffee company reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.19. Starbucks had a negative return on equity of 34.10% and a net margin of 5.17%.The firm had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same period last year, the company earned $0.50 EPS. Starbucks's quarterly revenue was down 1.4% compared to the same quarter last year. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. Sell-side analysts predict that Starbucks Corporation will post 2.64 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, August 14th. Starbucks's dividend payout ratio (DPR) is 142.53%.

Insider Activity

In other news, CEO Brady Brewer sold 2,229 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.99, for a total value of $236,251.71. Following the transaction, the chief executive officer directly owned 75,135 shares in the company, valued at approximately $7,963,558.65. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,687 shares of company stock worth $681,663 over the last ninety days. 0.03% of the stock is currently owned by 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source