Whittier Trust Co. of Nevada Inc. Reduces Holdings in Starbucks Corporation $SBUX

Whittier Trust Co. of Nevada Inc. lessened its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 19.6% in the second quarter, Holdings Channel.com reports. The firm owned 34,334 shares of the coffee company’s stock after selling 8,354 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Starbucks were worth $3,557,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Starbucks during the 4th quarter valued at $1,232,650,000. T. Rowe Price Investment Management Inc. raised its stake in shares of Starbucks by 65.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 19,447,854 shares of the coffee company’s stock valued at $1,637,704,000 after purchasing an additional 7,725,547 shares during the period. Capital World Investors lifted its holdings in Starbucks by 9.0% during the 4th quarter. Capital World Investors now owns 84,727,405 shares of the coffee company’s stock worth $7,135,228,000 after purchasing an additional 7,007,268 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Starbucks by 146.6% during the 2nd quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company’s stock valued at $553,201,000 after buying an additional 3,596,014 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Starbucks by 483.8% in the second quarter. Assenagon Asset Management S.A. now owns 3,182,890 shares of the coffee company’s stock worth $325,260,000 after buying an additional 2,637,715 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

NASDAQ SBUX opened at $107.69 on Monday. The company has a market capitalization of $122.77 billion, a price-to-earnings ratio of 61.89, a PEG ratio of 1.86 and a beta of 0.97. The stock has a 50-day moving average of $103.78 and a 200 day moving average of $99.99. Starbucks Corporation has a one year low of $77.99 and a one year high of $110.51.

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

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.3%. Starbucks’s dividend payout ratio (DPR) is presently 142.53%.

Insider Activity

In related news, CEO Brady Brewer sold 2,229 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.99, for a total value of $236,251.71. Following the transaction, the chief executive officer directly owned 75,135 shares of the company’s stock, valued at approximately $7,963,558.65. This trade represents a 2.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 6,687 shares of company stock worth $681,663. Insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Jefferies Financial Group initiated coverage on shares of Starbucks in a research report on Thursday, May 14th. They set a “buy” rating for the company. Guggenheim started coverage on Starbucks in a report on Monday, August 3rd. They issued a “buy” rating on the stock. BNP Paribas Exane raised their target price on shares of Starbucks from $87.00 to $92.00 and gave the company an “underperform” rating in a research note on Thursday, July 30th. BMO Capital Markets reiterated an “outperform” rating and issued a $130.00 price objective on shares of Starbucks in a report on Thursday, July 30th. Finally, BTIG Research reissued a “buy” rating and issued a $115.00 price target on shares of Starbucks in a report on Friday, July 31st. Nineteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $109.92.

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.