Marks Group Wealth Management Inc Sells 22,824 Shares of Starbucks Corporation $SBUX

Marks Group Wealth Management Inc reduced its holdings in Starbucks Corporation (NASDAQ:SBUX) by 59.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 15,602 shares of the coffee company’s stock after selling 22,824 shares during the period. Marks Group Wealth Management Inc’s holdings in Starbucks were worth $1,594,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Rachor Investment Advisory Services LLC acquired a new stake in shares of Starbucks in the fourth quarter worth $25,000. Cornerstone Financial Management LLC bought a new position in Starbucks during the fourth quarter worth $25,000. Phillip James Consulting Co. acquired a new position in Starbucks during the 4th quarter valued at $25,000. Entrust Financial LLC acquired a new position in Starbucks during the 4th quarter valued at $26,000. Finally, Tucker Asset Management LLC bought a new stake in Starbucks in the 4th quarter valued at $27,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Brady Brewer sold 2,229 shares of the 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,687 shares of company stock valued at $681,663 over the last quarter. Insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on SBUX shares. Evercore restated an “outperform” rating on shares of Starbucks in a research report on Thursday, July 30th. Morgan Stanley lowered shares of Starbucks from an “overweight” rating to an “underweight” rating in a research report on Monday, August 3rd. Jefferies Financial Group started coverage on shares of Starbucks in a research note on Thursday, May 14th. They issued a “buy” rating for the company. Melius Research set a $110.00 target price on Starbucks in a research report on Monday, August 3rd. Finally, Guggenheim initiated coverage on Starbucks in a research note on Monday, August 3rd. They set a “buy” rating on the stock. Nineteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $109.92.

Starbucks Price Performance

SBUX opened at $107.92 on Tuesday. Starbucks Corporation has a fifty-two week low of $77.99 and a fifty-two week high of $110.51. The firm’s fifty day moving average price is $104.04 and its two-hundred day moving average price is $100.08. The company has a market capitalization of $123.03 billion, a P/E ratio of 62.02, a P/E/G ratio of 1.86 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly 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 firm had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. On average, equities research analysts expect that Starbucks Corporation will post 2.64 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid 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 yield of 2.3%. Starbucks’s payout ratio 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.