Rockland Trust Co. Sells 8,185 Shares of Starbucks Corporation $SBUX

Rockland Trust Co. trimmed its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 32.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,137 shares of the coffee company’s stock after selling 8,185 shares during the period. Rockland Trust Co.’s holdings in Starbucks were worth $1,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Brighton Jones LLC lifted its position in Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Schnieders Capital Management LLC. increased its holdings in shares of Starbucks by 47.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 3,642 shares of the coffee company’s stock worth $334,000 after buying an additional 1,164 shares during the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at about $288,000. Gamco Investors INC. ET AL lifted its holdings in shares of Starbucks by 92.8% in the 2nd quarter. Gamco Investors INC. ET AL now owns 5,225 shares of the coffee company’s stock valued at $479,000 after acquiring an additional 2,515 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Starbucks by 7.6% in the 2nd quarter. NewEdge Advisors LLC now owns 112,710 shares of the coffee company’s stock valued at $10,328,000 after acquiring an additional 7,978 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $105.58 on Friday. The company has a market cap of $120.36 billion, a P/E ratio of 60.68, a PEG ratio of 1.82 and a beta of 0.97. Starbucks Corporation has a 1 year low of $77.99 and a 1 year high of $109.23. The firm has a 50-day simple moving average of $102.60 and a two-hundred day simple moving average of $99.55.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, July 29th. The coffee company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.19. Starbucks had a negative return on equity of 34.10% and a net margin of 5.17%.The firm had revenue of $9.32 billion for 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 company’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. As a group, equities research analysts expect that Starbucks Corporation will post 2.64 EPS for the current year.

Starbucks Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citigroup boosted their price objective on Starbucks from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Raymond James Financial lowered Starbucks to an “outperform” rating in a research note on Monday, August 3rd. The Goldman Sachs Group cut Starbucks from a “neutral” rating to a “neutral” rating in a report on Thursday, May 14th. Robert W. Baird set a $124.00 target price on Starbucks in a research report on Thursday, July 30th. Finally, Melius Research set a $110.00 price target on Starbucks in a report on Monday, August 3rd. Nineteen 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $111.96.

Insider Buying and Selling

In other Starbucks news, CEO Brady Brewer sold 2,229 shares of the 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 sale, the chief executive officer owned 75,135 shares in the company, valued at $7,963,558.65. This trade 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. Over the last 90 days, insiders sold 6,687 shares of company stock valued at $681,663. Corporate insiders own 0.03% of the company’s stock.

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.