DNB Asset Management AS Boosts Position in Starbucks Corporation $SBUX

DNB Asset Management AS raised its position in Starbucks Corporation (NASDAQ:SBUX) by 2.7% during the third quarter, Holdings Channel reports. The fund owned 357,551 shares of the coffee company’s stock after acquiring an additional 9,378 shares during the period. DNB Asset Management AS’s holdings in Starbucks were worth $30,249,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SBUX. Interchange Capital Partners LLC boosted its holdings in shares of Starbucks by 1.0% in the third quarter. Interchange Capital Partners LLC now owns 15,756 shares of the coffee company’s stock worth $1,333,000 after buying an additional 159 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Starbucks by 4.4% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,364,341 shares of the coffee company’s stock valued at $200,023,000 after buying an additional 100,125 shares during the last quarter. Citizens Business Bank bought a new position in Starbucks in the third quarter worth approximately $241,000. Intech Investment Management LLC boosted its stake in shares of Starbucks by 76.0% during the 3rd quarter. Intech Investment Management LLC now owns 120,912 shares of the coffee company’s stock worth $10,229,000 after acquiring an additional 52,226 shares during the last quarter. Finally, Empirical Asset Management LLC boosted its stake in shares of Starbucks by 12.7% during the 3rd quarter. Empirical Asset Management LLC now owns 8,615 shares of the coffee company’s stock worth $729,000 after acquiring an additional 970 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Down 0.1%

NASDAQ:SBUX opened at $98.02 on Friday. The stock has a 50-day moving average price of $92.43 and a 200 day moving average price of $87.73. The stock has a market capitalization of $111.67 billion, a P/E ratio of 81.01, a P/E/G ratio of 2.19 and a beta of 0.96. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. William Blair upgraded Starbucks from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $113.00 price target on shares of Starbucks in a research report on Thursday, January 29th. Piper Sandler reaffirmed an “overweight” rating and set a $103.00 price objective (up from $100.00) on shares of Starbucks in a research report on Friday, January 30th. Sanford C. Bernstein reissued an “outperform” rating on shares of Starbucks in a report on Monday, January 26th. Finally, Bank of America set a $114.00 target price on shares of Starbucks in a research note on Wednesday, January 21st. Eighteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $104.31.

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.