Ibex Wealth Advisors Takes $5.79 Million Position in Starbucks Corporation $SBUX

Ibex Wealth Advisors acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 56,608 shares of the coffee company’s stock, valued at approximately $5,785,000.

Several other large investors have also bought and sold shares of SBUX. Sunbelt Securities Inc. raised its stake in Starbucks by 1.0% during the first quarter. Sunbelt Securities Inc. now owns 9,473 shares of the coffee company’s stock worth $849,000 after acquiring an additional 97 shares in the last quarter. Webster Bank N. A. boosted its stake in shares of Starbucks by 7.8% in the 2nd quarter. Webster Bank N. A. now owns 1,396 shares of the coffee company’s stock valued at $143,000 after purchasing an additional 101 shares in the last quarter. Nilsine Partners LLC boosted its stake in shares of Starbucks by 1.0% in the 2nd quarter. Nilsine Partners LLC now owns 10,039 shares of the coffee company’s stock valued at $1,026,000 after purchasing an additional 101 shares in the last quarter. Beta Wealth Group Inc. grew its holdings in shares of Starbucks by 1.7% during the 2nd quarter. Beta Wealth Group Inc. now owns 6,216 shares of the coffee company’s stock valued at $635,000 after purchasing an additional 102 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its position in Starbucks by 2.1% during the 2nd quarter. GHP Investment Advisors Inc. now owns 5,321 shares of the coffee company’s stock worth $544,000 after purchasing an additional 107 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SBUX. Wedbush assumed coverage on shares of Starbucks in a research note on Thursday, May 14th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. BNP Paribas Exane upped their price target on shares of Starbucks from $87.00 to $92.00 and gave the stock an “underperform” rating in a report on Thursday, July 30th. DA Davidson raised their price objective on Starbucks from $102.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, Piper Sandler restated an “overweight” rating and set a $110.00 price objective on shares of Starbucks in a research report on Wednesday, April 29th. Nineteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $109.92.

Starbucks Stock Performance

Shares of SBUX opened at $107.69 on Monday. The stock’s 50-day moving average price is $103.78 and its two-hundred day moving average price is $99.99. Starbucks Corporation has a 12 month low of $77.99 and a 12 month high of $110.51. The company has a market capitalization of $122.77 billion, a PE ratio of 61.89, a PEG ratio of 1.86 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, July 29th. The coffee company reported $0.85 earnings per share for the quarter, beating 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 company had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.17 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. The business’s quarterly revenue was down 1.4% on a year-over-year basis. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. Equities research analysts predict that Starbucks Corporation will post 2.64 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $0.62 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.3%. Starbucks’s payout ratio is 142.53%.

Insider Activity at Starbucks

In other news, CEO Brady Brewer sold 2,229 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.99, for a total transaction of $236,251.71. Following the completion of the sale, the chief executive officer directly 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 filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 6,687 shares of company stock valued at $681,663. Corporate insiders own 0.03% of the company’s stock.

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.