Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Starbucks Corporation (NASDAQ:SBUX – Free Report) by 4.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,861 shares of the coffee company’s stock after buying an additional 7,563 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Starbucks were worth $16,643,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC raised its position in shares of Starbucks by 86.5% in 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. boosted its position in Starbucks by 47.0% during the second quarter. Schnieders Capital Management LLC. now owns 3,642 shares of the coffee company’s stock valued at $334,000 after purchasing an additional 1,164 shares in the last quarter. Flow Traders U.S. LLC bought a new stake in Starbucks during the second quarter valued at about $288,000. Gamco Investors INC. ET AL grew its stake in Starbucks by 92.8% in the second quarter. Gamco Investors INC. ET AL now owns 5,225 shares of the coffee company’s stock valued at $479,000 after purchasing an additional 2,515 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Starbucks by 7.6% in 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. Hedge funds and other institutional investors own 72.29% of the company’s stock.
Starbucks Stock Performance
Shares of NASDAQ SBUX opened at $108.55 on Friday. 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 $123.75 billion, a PE ratio of 62.39, a P/E/G ratio of 1.87 and a beta of 0.97. The business has a 50-day simple moving average of $103.53 and a two-hundred day simple moving average of $99.91.
Starbucks Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.62 per share. The ex-dividend date is Friday, August 14th. This represents a $2.48 dividend on an annualized basis and a yield of 2.3%. Starbucks’s dividend payout ratio is presently 142.53%.
Key Headlines Impacting Starbucks
Here are the key news stories impacting Starbucks this week:
- Positive Sentiment: Strong U.S. performance supports the rally. Starbucks reportedly delivered 8% U.S. comparable-store sales growth, while quarterly earnings and revenue exceeded analyst expectations. Analysts subsequently raised price targets as high as $130, reinforcing expectations that the company’s turnaround and operating initiatives are gaining traction. Starbucks (SBUX) Stock Reaches 52-Week Peak Following Strong Q3 Performance
- Positive Sentiment: Options activity signals bullish positioning. Investors purchased 40,915 SBUX call options, 59% above the average daily call volume of 25,712. Although options activity can include hedging, the elevated call buying suggests increased speculative interest in further gains.
- Positive Sentiment: Technical momentum remains favorable. Starbucks reached fresh 52-week highs, and chart analysts say the stock is approaching the upper end of a multiyear trading range, potentially creating room for a breakout if momentum continues. Starbucks is close to the top of its multiyear range
- Neutral Sentiment: Energy drinks offer a potential growth avenue. Starbucks is among restaurant chains expanding into energy drinks, which could broaden its beverage lineup and attract new occasions, but the financial impact is not yet clear. Why fast food chains are going all in on energy drinks
- Negative Sentiment: Starbucks Korea reported its first quarterly loss in 27 years. A marketing controversy led to a boycott, political criticism and a police raid, highlighting reputational and execution risks in an important international market. Starbucks Korea Suffers First Loss in 27 Years on PR Debacle
Insider Transactions at Starbucks
In other Starbucks news, CEO Brady Brewer sold 2,229 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.99, for a total value of $236,251.71. Following the completion of the transaction, the chief executive officer owned 75,135 shares of the company’s stock, valued at approximately $7,963,558.65. This trade represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 6,687 shares of company stock worth $681,663. Corporate insiders own 0.03% of the company’s stock.
Wall Street Analyst Weigh In
SBUX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $126.00 price target on shares of Starbucks in a report on Thursday, July 30th. Morgan Stanley lowered shares of Starbucks from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. Evercore reissued an “outperform” rating on shares of Starbucks in a research report on Thursday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of Starbucks in a research note on Monday, July 20th. Finally, DA Davidson lifted their price target on shares of Starbucks from $102.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Nineteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and a consensus price target of $109.92.
View Our Latest Stock Report on Starbucks
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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