Sumitomo Mitsui Trust Group Inc. Increases Position in Starbucks Corporation $SBUX

Sumitomo Mitsui Trust Group Inc. boosted its position in Starbucks Corporation (NASDAQ:SBUX) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 2,622,136 shares of the coffee company’s stock after acquiring an additional 16,675 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Starbucks were worth $267,956,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sovran Advisors LLC boosted its holdings in shares of Starbucks by 130.1% in the 2nd quarter. Sovran Advisors LLC now owns 6,235 shares of the coffee company’s stock worth $643,000 after purchasing an additional 3,525 shares in the last quarter. Ethic Inc. lifted its position in Starbucks by 4.0% in the 2nd quarter. Ethic Inc. now owns 43,563 shares of the coffee company’s stock worth $4,452,000 after buying an additional 1,671 shares during the last quarter. Westfuller Advisors LLC boosted its stake in Starbucks by 5.1% in the second quarter. Westfuller Advisors LLC now owns 11,787 shares of the coffee company’s stock worth $1,204,000 after buying an additional 574 shares in the last quarter. Jacobsen Capital Management purchased a new stake in Starbucks in the second quarter worth approximately $220,000. Finally, Family Capital Trust Co grew its position in Starbucks by 5.7% during the second quarter. Family Capital Trust Co now owns 50,691 shares of the coffee company’s stock valued at $5,180,000 after acquiring an additional 2,711 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, CEO Brady Brewer sold 2,229 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.99, for a total value of $236,251.71. Following the completion of the sale, the chief executive officer owned 75,135 shares in the company, valued at approximately $7,963,558.65. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 6,687 shares of company stock valued at $681,663. Company insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of several research reports. Zacks Research downgraded shares of Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Piper Sandler reiterated an “overweight” rating and issued a $110.00 target price on shares of Starbucks in a research report on Wednesday, April 29th. Compass Point started coverage on shares of Starbucks in a research report on Monday, August 3rd. They set a “buy” rating for the company. DA Davidson raised their price objective on Starbucks from $102.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, Morgan Stanley downgraded Starbucks from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. Nineteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $110.30.

Starbucks Stock Down 1.8%

Shares of Starbucks stock opened at $106.01 on Wednesday. The company’s fifty day simple moving average is $104.21 and its two-hundred day simple moving average is $100.15. Starbucks Corporation has a 12-month low of $77.99 and a 12-month high of $110.51. The firm has a market cap of $120.85 billion, a PE ratio of 60.93, a price-to-earnings-growth ratio of 1.86 and a beta of 0.97.

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

Starbucks Announces Dividend

The firm also recently declared 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 dividend payout ratio is presently 142.53%.

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.