Washington Trust Bank Trims Stock Holdings in Starbucks Corporation $SBUX

Washington Trust Bank decreased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 13.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,601 shares of the coffee company’s stock after selling 20,097 shares during the quarter. Starbucks comprises approximately 1.0% of Washington Trust Bank’s portfolio, making the stock its 26th biggest holding. Washington Trust Bank’s holdings in Starbucks were worth $13,755,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in shares of Starbucks by 86.5% during the 4th 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 period. Schnieders Capital Management LLC. boosted its stake in 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 purchasing an additional 1,164 shares during the period. Flow Traders U.S. LLC purchased a new position in Starbucks during the 2nd quarter valued at about $288,000. Gamco Investors INC. ET AL grew its holdings in Starbucks by 92.8% during the 2nd quarter. Gamco Investors INC. ET AL now owns 5,225 shares of the coffee company’s stock valued at $479,000 after buying an additional 2,515 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Starbucks by 7.6% during the second quarter. NewEdge Advisors LLC now owns 112,710 shares of the coffee company’s stock valued at $10,328,000 after buying an additional 7,978 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks news, CEO Brady Brewer sold 2,229 shares of the business’s stock in a transaction that occurred on 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. The trade was a 2.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 6,687 shares of company stock valued at $681,663. 0.03% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SBUX. Compass Point started coverage on shares of Starbucks in a report on Monday, August 3rd. They issued a “buy” rating on the stock. The Goldman Sachs Group cut shares of Starbucks from a “neutral” rating to a “neutral” rating in a research note on Thursday, May 14th. Sanford C. Bernstein lowered shares of Starbucks from an “outperform” rating to a “market perform” rating in a 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 on the stock. Finally, Wells Fargo & Company downgraded shares of Starbucks from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. One investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $110.30.

Starbucks Stock Up 0.6%

NASDAQ:SBUX opened at $107.85 on Friday. The stock has a market cap of $122.95 billion, a P/E ratio of 61.98, a PEG ratio of 1.86 and a beta of 0.97. The business’s 50-day moving average price is $105.10 and its two-hundred day moving average price is $100.78. Starbucks Corporation has a twelve month low of $77.99 and a twelve month high of $110.51.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, July 29th. The coffee company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.66 by $0.19. The company had revenue of $9.32 billion during the quarter, compared to analyst estimates of $9.17 billion. Starbucks had a negative return on equity of 34.10% and a net margin of 5.17%.Starbucks’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.62 per share. The ex-dividend date was Friday, August 14th. This represents a $2.48 annualized dividend 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.