Glenview Trust Co Makes New Investment in Starbucks Corporation $SBUX

Glenview Trust Co bought a new position in Starbucks Corporation (NASDAQ:SBUX) in the second quarter, Holdings Channel.com reports. The firm bought 62,089 shares of the coffee company’s stock, valued at approximately $6,345,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Starbucks in the 2nd quarter valued at approximately $8,504,509,000. Bank of America Corp DE acquired a new stake in Starbucks in the second quarter valued at approximately $1,581,287,000. Norges Bank bought a new stake in shares of Starbucks during the fourth quarter worth $1,232,650,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Starbucks by 65.9% during the fourth 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 position in shares of Starbucks during the second quarter worth $779,790,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SBUX. Wells Fargo & Company downgraded Starbucks from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. Morgan Stanley cut Starbucks from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. Zacks Research downgraded Starbucks from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. UBS Group lifted their price target on Starbucks from $105.00 to $112.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, Wedbush began coverage on Starbucks in a report on Thursday, May 14th. They set an “outperform” 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 assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $110.30.

Trending Headlines about Starbucks

Here are the key news stories impacting Starbucks this week:

• Positive Sentiment: Analyst upgrade: Robert W. Baird upgraded Starbucks to “strong buy,” signaling confidence in the company’s turnaround prospects and potentially supporting investor sentiment. Zacks report
• Positive Sentiment: Fall menu and marketing: Starbucks launched its seasonal menu, including the Pumpkin Spice Latte, supported by advertising featuring Martha Stewart. The promotion could drive customer traffic and strengthen seasonal sales. Starbucks launches fall menu Pumpkin Spice Latte advertising
• Positive Sentiment: Property transactions: A corporate Starbucks drive-thru in Jacksonville, Florida, was included in a $6.9 million pair of net-lease deals. While not a material financial event for Starbucks, the transaction highlights ongoing investor demand for Starbucks-occupied properties. Starbucks net-lease transaction
• Neutral Sentiment: Valuation and operating backdrop: Starbucks recently exceeded quarterly earnings and revenue expectations, but revenue declined year over year. With a relatively high earnings multiple, investors may require sustained improvement from the company’s turnaround plan.
• Negative Sentiment: Union-led boycott: Starbucks Workers United called for a boycott tied to stalled contract negotiations, seeking $17 hourly wages and a contract covering more than 12,000 baristas. The action presents near-term traffic, sales and reputational risks. Starbucks union boycott
• Negative Sentiment: Consumer caution: Reports questioning whether consumers are rethinking coffee purchases raise concerns about traffic and demand, particularly if customers trade down or reduce premium beverage spending. Consumer caution report
• Negative Sentiment: Turnaround costs: Additional job cuts as Starbucks expands its roughly $2 billion overhaul may pressure near-term morale and execution, even though management expects restructuring to improve efficiency over time. Starbucks job cuts and turnaround

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $107.26 on Friday. Starbucks Corporation has a 52 week low of $77.99 and a 52 week high of $110.51. The firm has a market cap of $122.28 billion, a PE ratio of 61.64, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97. The firm’s fifty day moving average is $104.95 and its 200-day moving average is $100.73.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, July 29th. The coffee company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.19. The business had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.17 billion. Starbucks had a negative return on equity of 34.10% and a net margin of 5.17%.Starbucks’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. Sell-side analysts forecast that Starbucks Corporation will post 2.64 EPS for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders 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 annualized dividend and a dividend yield of 2.3%. Starbucks’s dividend payout ratio is presently 142.53%.

Insider Buying and Selling at Starbucks

In other news, CEO Brady Brewer sold 2,229 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.99, for a total transaction of $236,251.71. Following the completion of the transaction, the chief executive officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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. Corporate insiders own 0.03% of the company’s stock.

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.