Strait & Sound Wealth Management LLC Makes New Investment in Starbucks Corporation $SBUX

Strait & Sound Wealth Management LLC acquired a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) in the second quarter, Holdings Channel.com reports. The firm acquired 8,213 shares of the coffee company’s stock, valued at approximately $839,000.

A number of other hedge funds have also recently modified their holdings of SBUX. Brighton Jones LLC raised its position in Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $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% in the 2nd quarter. Schnieders Capital Management LLC. now owns 3,642 shares of the coffee company’s stock worth $334,000 after purchasing an additional 1,164 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $288,000. Gamco Investors INC. ET AL increased its holdings in shares of Starbucks by 92.8% during the 2nd 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 in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Starbucks by 7.6% in the 2nd quarter. NewEdge Advisors LLC now owns 112,710 shares of the coffee company’s stock valued at $10,328,000 after purchasing an additional 7,978 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.6%

SBUX opened at $107.85 on Friday. The company has a market cap of $122.95 billion, a price-to-earnings ratio of 61.98, a PEG ratio of 1.85 and a beta of 0.97. Starbucks Corporation has a 52-week low of $77.99 and a 52-week high of $110.51. The firm’s fifty day simple moving average is $105.10 and its two-hundred day simple moving average is $100.78.

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

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, August 14th. Starbucks’s payout ratio is presently 142.53%.

Insider Buying and Selling

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 transaction 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 $7,963,558.65. This represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 6,687 shares of company stock worth $681,663. 0.03% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent analyst reports. Robert W. Baird raised shares of Starbucks to a “strong-buy” rating in a report on Monday, August 24th. TD Cowen reiterated a “buy” rating on shares of Starbucks in a research report on Tuesday, August 18th. Wedbush initiated coverage on shares of Starbucks in a research note on Thursday, May 14th. They set an “outperform” rating on the stock. UBS Group raised their target price on Starbucks from $105.00 to $112.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $130.00 price target on shares of Starbucks in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $110.30.

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.