State of Michigan Retirement System Sells 5,800 Shares of Starbucks Corporation $SBUX

State of Michigan Retirement System trimmed its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 291,859 shares of the coffee company’s stock after selling 5,800 shares during the period. State of Michigan Retirement System’s holdings in Starbucks were worth $29,825,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Sunbelt Securities Inc. grew its position in Starbucks by 1.0% during the first quarter. Sunbelt Securities Inc. now owns 9,473 shares of the coffee company’s stock valued at $849,000 after acquiring an additional 97 shares during 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, Elgethun Capital Management raised its position in Starbucks by 9.4% in the 2nd quarter. Elgethun Capital Management now owns 1,219 shares of the coffee company’s stock worth $125,000 after purchasing an additional 105 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX opened at $104.98 on Thursday. Starbucks Corporation has a 1 year low of $77.99 and a 1 year high of $110.51. The stock has a market capitalization of $119.68 billion, a PE ratio of 60.33, a PEG ratio of 1.83 and a beta of 0.97. The business’s 50-day moving average is $104.33 and its 200 day moving average is $100.23.

Starbucks (NASDAQ:SBUX) last released its quarterly 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 business had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the prior year, the company posted $0.50 EPS. Starbucks’s quarterly revenue was down 1.4% compared to the same quarter last year. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.64 earnings per share for the current 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 issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, August 14th. Starbucks’s dividend payout ratio is currently 142.53%.

Insider Buying and Selling

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 completion of the sale, the chief executive officer owned 75,135 shares of the company’s stock, valued at $7,963,558.65. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,687 shares of company stock valued at $681,663 over the last ninety days. Company insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $126.00 price target on shares of Starbucks in a research note on Thursday, July 30th. Stifel Nicolaus set a $117.00 price objective on Starbucks and gave the stock a “buy” rating in a report on Wednesday, May 6th. Evercore reissued an “outperform” rating on shares of Starbucks in a research note on Thursday, July 30th. Jefferies Financial Group began coverage on Starbucks in a report on Thursday, May 14th. They set a “buy” rating for the company. Finally, Sanford C. Bernstein lowered Starbucks from an “outperform” rating to a “market perform” rating in a research report on Monday, August 3rd. Nineteen equities 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $110.30.

Starbucks Company 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.