Tortuga Wealth Management Inc Takes $1.25 Million Position in Starbucks Corporation $SBUX

Tortuga Wealth Management Inc acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,199 shares of the coffee company’s stock, valued at approximately $1,247,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rachor Investment Advisory Services LLC bought a new position in shares of Starbucks during the 4th quarter worth $25,000. Cornerstone Financial Management LLC bought a new position in shares of Starbucks during the fourth quarter valued at approximately $25,000. Phillip James Consulting Co. bought a new position in shares of Starbucks during the fourth quarter valued at approximately $25,000. Entrust Financial LLC purchased a new position in Starbucks during the fourth quarter valued at approximately $26,000. Finally, Tucker Asset Management LLC bought a new position in Starbucks in the fourth quarter worth approximately $27,000. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Down 1.0%

Shares of SBUX opened at $104.98 on Thursday. The firm has a market cap of $119.68 billion, a PE ratio of 60.33, a P/E/G ratio of 1.83 and a beta of 0.97. Starbucks Corporation has a 12 month low of $77.99 and a 12 month high of $110.51. The stock has a fifty day moving average price of $104.33 and a 200-day moving average price of $100.23.

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

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders 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 dividend yield of 2.4%. Starbucks’s payout ratio is presently 142.53%.

Insider Activity

In other 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 transaction, the chief executive officer 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 SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,687 shares of company stock worth $681,663 in the last 90 days. Corporate insiders own 0.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SBUX. Needham & Company LLC set a $120.00 target price on Starbucks in a report on Tuesday. Royal Bank Of Canada reissued a “sector perform” rating and issued a $115.00 price target (up from $110.00) on shares of Starbucks in a research report on Thursday, July 30th. Compass Point began coverage on Starbucks in a research note on Monday, August 3rd. They set a “buy” rating for the company. JPMorgan Chase & Co. raised their price objective on Starbucks from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Finally, Morgan Stanley lowered Starbucks from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. Nineteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $110.30.

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.