PNC Financial Services Group Inc. Raises Holdings in Starbucks Corporation $SBUX

PNC Financial Services Group Inc. increased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 22.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,187,168 shares of the coffee company’s stock after buying an additional 215,826 shares during the period. PNC Financial Services Group Inc. owned about 0.10% of Starbucks worth $100,434,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Nordea Investment Management AB grew its position in shares of Starbucks by 3.2% in the third quarter. Nordea Investment Management AB now owns 433,112 shares of the coffee company’s stock valued at $36,576,000 after purchasing an additional 13,262 shares during the period. Asset Management One Co. Ltd. lifted its stake in Starbucks by 3.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 548,768 shares of the coffee company’s stock valued at $46,426,000 after buying an additional 16,428 shares in the last quarter. Providence Capital Advisors LLC acquired a new stake in Starbucks in the 3rd quarter worth about $6,099,000. Allstate Corp acquired a new stake in Starbucks in the 3rd quarter worth about $3,491,000. Finally, GAM Holding AG purchased a new position in shares of Starbucks in the third quarter valued at approximately $1,811,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SBUX. Dbs Bank lowered Starbucks from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Starbucks in a research note on Monday, December 29th. BMO Capital Markets reiterated an “outperform” rating and issued a $120.00 target price on shares of Starbucks in a research report on Friday, January 30th. Guggenheim reiterated a “buy” rating and issued a $90.00 target price on shares of Starbucks in a research report on Monday, January 26th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Starbucks in a research report on Monday, January 26th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $104.31.

Starbucks Trading Down 3.1%

Starbucks stock opened at $93.79 on Monday. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The stock has a market cap of $106.85 billion, a P/E ratio of 77.51, a PEG ratio of 2.10 and a beta of 0.96. The company has a 50-day moving average price of $90.22 and a 200 day moving average price of $87.25.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, January 28th. The coffee company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.03). Starbucks had a net margin of 3.63% and a negative return on equity of 28.66%. The firm had revenue of $9.92 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Starbucks has set its FY 2026 guidance at 2.150-2.400 EPS. As a group, analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

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.