Starbucks Corporation $SBUX Shares Sold by Washington Trust Bank

Washington Trust Bank reduced its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 14.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 172,273 shares of the coffee company’s stock after selling 28,218 shares during the quarter. Starbucks comprises approximately 1.0% of Washington Trust Bank’s holdings, making the stock its 28th biggest position. Washington Trust Bank’s holdings in Starbucks were worth $14,507,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Collier Financial acquired a new stake in Starbucks during the 3rd quarter worth about $25,000. Rachor Investment Advisory Services LLC acquired a new stake in Starbucks during the 4th quarter worth about $25,000. Y.D. More Investments Ltd acquired a new stake in Starbucks during the 3rd quarter worth about $26,000. JPL Wealth Management LLC acquired a new stake in Starbucks during the 3rd quarter worth about $27,000. Finally, Kelleher Financial Advisors acquired a new stake in Starbucks during the 3rd quarter worth about $27,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Up 0.8%

Shares of Starbucks stock opened at $105.74 on Tuesday. The firm has a market capitalization of $120.51 billion, a PE ratio of 80.11, a P/E/G ratio of 2.12 and a beta of 1.01. Starbucks Corporation has a twelve month low of $77.99 and a twelve month high of $108.04. The firm’s 50-day moving average price is $97.36 and its 200 day moving average price is $91.82.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 28th. The coffee company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $9.53 billion for the quarter, compared to analyst estimates of $9.17 billion. Starbucks had a net margin of 3.89% and a negative return on equity of 29.24%. Starbucks’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $0.41 EPS. Starbucks has set its FY 2026 guidance at 2.250-2.450 EPS. On average, sell-side analysts predict that Starbucks Corporation will post 2.41 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.48 dividend on an annualized basis and a yield of 2.3%. Starbucks’s dividend payout ratio (DPR) is currently 187.88%.

Insider Transactions at Starbucks

In related news, EVP Sara Kelly sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $97.12, for a total value of $242,800.00. Following the transaction, the executive vice president directly owned 59,609 shares of the company’s stock, valued at approximately $5,789,226.08. This trade represents a 4.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brady Brewer sold 2,229 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $104.81, for a total transaction of $233,621.49. Following the completion of the transaction, the chief executive officer directly owned 81,559 shares in the company, valued at $8,548,198.79. This trade represents a 2.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 11,187 shares of company stock worth $1,111,085 over the last ninety days. 0.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SBUX has been the topic of a number of analyst reports. Tigress Financial initiated coverage on Starbucks in a research report on Wednesday, April 15th. They set a “buy” rating and a $122.00 target price on the stock. Dbs Bank upgraded Starbucks from a “strong sell” rating to a “moderate sell” rating in a research report on Friday, March 20th. Stifel Nicolaus set a $117.00 target price on Starbucks and gave the company a “buy” rating in a research report on Wednesday, May 6th. Evercore raised their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $110.00 target price (up from $105.00) on shares of Starbucks in a research report on Wednesday, April 29th. Sixteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $107.00.

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.