Wesbanco Bank Inc. Lowers Stock Holdings in Starbucks Corporation $SBUX

Key Points

• Wesbanco Bank Inc. cut its Starbucks stake by 56.5% in the fourth quarter, leaving it with 69,134 shares valued at about $5.82 million.
• Starbucks reported better-than-expected quarterly results, posting EPS of $0.50 versus $0.44 expected and revenue of $9.53 billion, up 8.8% from a year earlier.
• The company also declared a quarterly dividend of $0.62 per share, while analysts remain mixed but generally constructive with a consensus rating of Moderate Buy and an average target price of $107.

Wesbanco Bank Inc. lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) by 56.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,134 shares of the coffee company's stock after selling 89,647 shares during the quarter. Wesbanco Bank Inc.'s holdings in Starbucks were worth $5,822,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Collier Financial purchased a new stake in Starbucks in the 3rd quarter valued at approximately $25,000. Rachor Investment Advisory Services LLC purchased a new stake in Starbucks in the 4th quarter valued at approximately $25,000. Y.D. More Investments Ltd purchased a new stake in Starbucks in the 3rd quarter valued at approximately $26,000. JPL Wealth Management LLC purchased a new stake in Starbucks in the 3rd quarter valued at approximately $27,000. Finally, Kelleher Financial Advisors purchased a new stake in Starbucks in the 3rd quarter valued at approximately $27,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $104.93 on Friday. Starbucks Corporation has a 1 year low of $77.99 and a 1 year high of $107.55. The company has a market capitalization of $119.55 billion, a P/E ratio of 79.49, a P/E/G ratio of 2.11 and a beta of 1.01. The business has a 50 day moving average price of $97.07 and a 200 day moving average price of $91.54.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $9.17 billion. During the same period in the previous year, the firm posted $0.41 EPS. The company's quarterly revenue was up 8.8% compared to the same quarter last year. Starbucks has set its FY 2026 guidance at 2.250-2.450 EPS. As a group, research analysts expect that Starbucks Corporation will post 2.41 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be issued a $0.62 dividend. The ex-dividend date is Friday, May 15th. This represents a $2.48 annualized dividend and a yield of 2.4%. Starbucks's payout ratio is 187.88%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Brady Brewer sold 2,229 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $104.81, for a total value of $233,621.49. Following the completion of the transaction, the chief executive officer directly owned 81,559 shares in the company, valued at approximately $8,548,198.79. The trade was a 2.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sara Kelly sold 2,500 shares of the business's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $97.12, for a total transaction of $242,800.00. Following the sale, the executive vice president directly owned 59,609 shares of the company's stock, valued at $5,789,226.08. This represents a 4.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,187 shares of company stock valued at $1,111,085 over the last quarter. 0.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SBUX shares. Guggenheim reaffirmed a "neutral" rating and issued a $97.00 price objective (up from $95.00) on shares of Starbucks in a report on Wednesday, April 29th. Stifel Nicolaus set a $117.00 price target on shares of Starbucks and gave the company a "buy" rating in a research report on Wednesday. Mizuho lifted their price target on shares of Starbucks from $86.00 to $95.00 and gave the company a "neutral" rating in a research report on Monday, January 26th. Citigroup lifted their price target on shares of Starbucks from $99.00 to $101.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Starbucks in a research report on Wednesday, April 29th. Sixteen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $107.00.

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.

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.