Coastal Bridge Advisors LLC Buys New Stake in Starbucks Corporation $SBUX

Coastal Bridge Advisors LLC purchased a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,232 shares of the coffee company’s stock, valued at approximately $739,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Starbucks during the second quarter worth about $8,504,509,000. Bank of America Corp DE purchased a new position in Starbucks in the 2nd quarter valued at about $1,581,287,000. Norges Bank purchased a new position in Starbucks in the 4th quarter valued at about $1,232,650,000. T. Rowe Price Investment Management Inc. boosted its holdings in Starbucks by 65.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 19,447,854 shares of the coffee company’s stock worth $1,637,704,000 after buying an additional 7,725,547 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Starbucks in the 2nd quarter worth about $779,790,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research reports. Wells Fargo & Company cut Starbucks from an “overweight” rating to an “underweight” rating in a research report on Monday, August 3rd. Guggenheim began coverage on shares of Starbucks in a research note on Monday, August 3rd. They set a “buy” rating on the stock. Morgan Stanley lowered shares of Starbucks from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. Scotiabank cut shares of Starbucks from a “market perform” rating to an “underperform” rating in a research report on Thursday, May 14th. Finally, Jefferies Financial Group initiated coverage on shares of Starbucks in a research note on Thursday, May 14th. They issued a “buy” rating on the stock. 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $110.30.

Insider Activity

In related news, CEO Brady Brewer sold 2,229 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.99, for a total value of $236,251.71. Following the sale, the chief executive officer directly owned 75,135 shares in the company, valued at approximately $7,963,558.65. The trade was a 2.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 6,687 shares of company stock worth $681,663. 0.03% of the stock is currently owned by company insiders.

Starbucks Trading Up 0.6%

Starbucks stock opened at $107.85 on Friday. The company has a 50-day moving average price of $105.10 and a 200 day moving average price of $100.78. Starbucks Corporation has a 12-month low of $77.99 and a 12-month high of $110.51. The stock has a market cap of $122.95 billion, a P/E ratio of 61.98, a PEG ratio of 1.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its 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. The company had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.17 billion. Starbucks had a net margin of 5.17% and a negative return on equity of 34.10%. Starbucks’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 EPS. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. As a group, analysts forecast that Starbucks Corporation will post 2.64 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given 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 of this dividend was Friday, August 14th. Starbucks’s dividend payout ratio (DPR) is presently 142.53%.

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.