NewEdge Wealth LLC Decreases Holdings in Starbucks Corporation $SBUX

NewEdge Wealth LLC decreased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 29.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 58,401 shares of the coffee company’s stock after selling 23,871 shares during the period. NewEdge Wealth LLC’s holdings in Starbucks were worth $4,918,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Starbucks by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 114,410,675 shares of the coffee company’s stock worth $9,634,523,000 after acquiring an additional 971,773 shares in the last quarter. Capital Research Global Investors lifted its stake in Starbucks by 11.4% in the 3rd quarter. Capital Research Global Investors now owns 85,460,350 shares of the coffee company’s stock valued at $7,229,968,000 after buying an additional 8,774,198 shares in the last quarter. Capital World Investors lifted its stake in Starbucks by 1.9% in the 3rd quarter. Capital World Investors now owns 77,720,137 shares of the coffee company’s stock valued at $6,575,430,000 after buying an additional 1,462,874 shares in the last quarter. Capital International Investors lifted its stake in Starbucks by 22.5% in the 3rd quarter. Capital International Investors now owns 14,691,772 shares of the coffee company’s stock valued at $1,243,104,000 after buying an additional 2,699,479 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Starbucks by 6.5% in the 3rd quarter. Invesco Ltd. now owns 13,590,494 shares of the coffee company’s stock valued at $1,149,756,000 after buying an additional 832,540 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Sara Kelly sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $105.00, for a total transaction of $210,000.00. Following the completion of the sale, the executive vice president directly owned 57,653 shares in the company, valued at $6,053,565. This represents a 3.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brady Brewer sold 2,229 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $104.81, for a total value of $233,621.49. Following the completion of the sale, the chief executive officer owned 81,559 shares of the company’s stock, valued at approximately $8,548,198.79. This represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 11,187 shares of company stock valued at $1,111,085. Insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent research reports. BTIG Research upped their target price on Starbucks from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Tigress Financial started coverage on Starbucks in a research note on Wednesday, April 15th. They issued a “buy” rating and a $122.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Starbucks in a research note on Wednesday, April 22nd. Dbs Bank raised Starbucks from a “strong sell” rating to a “moderate sell” rating in a research note on Friday, March 20th. Finally, New Street Research set a $90.00 price target on Starbucks in a research note on Tuesday, January 27th. Sixteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $107.00.

Starbucks Stock Up 0.8%

SBUX stock opened at $105.74 on Tuesday. The company has a market cap of $120.51 billion, a price-to-earnings ratio of 80.11, a PEG ratio of 2.12 and a beta of 1.01. The business has a fifty day simple moving average of $97.36 and a 200-day simple moving average of $91.82. Starbucks Corporation has a 52 week low of $77.99 and a 52 week high of $108.04.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 28th. The coffee company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $9.53 billion during the quarter, compared to the consensus estimate of $9.17 billion. Starbucks had a negative return on equity of 29.24% and a net margin of 3.89%.The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. Starbucks has set its FY 2026 guidance at 2.250-2.450 EPS. As a group, analysts expect that Starbucks Corporation will post 2.41 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, May 15th. Starbucks’s dividend payout ratio is presently 187.88%.

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.