Starbucks Corporation $SBUX Holdings Cut by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 59.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,602 shares of the coffee company’s stock after selling 22,824 shares during the period. Marks Group Wealth Management Inc’s holdings in Starbucks were worth $1,594,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Starbucks during the fourth quarter worth $1,232,650,000. T. Rowe Price Investment Management Inc. boosted its position in Starbucks by 65.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 19,447,854 shares of the coffee company’s stock valued at $1,637,704,000 after purchasing an additional 7,725,547 shares during the last quarter. Capital World Investors grew its stake in Starbucks by 9.0% in 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 purchasing an additional 7,007,268 shares in the last quarter. Corient Private Wealth LLC grew its stake in Starbucks by 146.6% in the second quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company’s stock valued at $553,201,000 after purchasing an additional 3,596,014 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Starbucks by 483.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,182,890 shares of the coffee company’s stock worth $325,260,000 after purchasing an additional 2,637,715 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Starbucks

In other Starbucks 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 transaction of $236,251.71. Following the completion of the sale, the chief executive officer directly owned 75,135 shares in the company, valued at $7,963,558.65. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 in the last three months. 0.03% of the stock is owned by corporate insiders.

Starbucks Stock Up 0.2%

Shares of SBUX stock opened at $107.92 on Tuesday. Starbucks Corporation has a 12 month low of $77.99 and a 12 month high of $110.51. The company has a market cap of $123.03 billion, a PE ratio of 62.02, a price-to-earnings-growth ratio of 1.86 and a beta of 0.97. The business’s 50 day moving average is $104.04 and its two-hundred day moving average is $100.08.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, July 29th. The coffee company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.19. The business had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.17 billion. Starbucks had a net margin of 5.17% and a negative return on equity of 34.10%. Starbucks’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 earnings per share. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. As a group, equities analysts expect that Starbucks Corporation will post 2.64 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.48 dividend on an annualized basis and a yield of 2.3%. Starbucks’s payout ratio is currently 142.53%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SBUX. Morgan Stanley lowered Starbucks from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. Jefferies Financial Group assumed coverage on Starbucks in a report on Thursday, May 14th. They issued a “buy” rating on the stock. Wells Fargo & Company lowered shares of Starbucks from an “overweight” rating to an “underweight” rating in a research report on Monday, August 3rd. Melius Research set a $110.00 target price on shares of Starbucks in a research note on Monday, August 3rd. Finally, Citigroup boosted their target price on shares of Starbucks from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Nineteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Starbucks has an average rating of “Hold” and an average price target of $109.92.

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.