Resona Asset Management Co. Ltd. Sells 28,160 Shares of Starbucks Corporation $SBUX

Resona Asset Management Co. Ltd. decreased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 8.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 319,468 shares of the coffee company’s stock after selling 28,160 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Starbucks were worth $32,774,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Rachor Investment Advisory Services LLC bought a new stake in shares of Starbucks during the fourth quarter worth $25,000. Phillip James Consulting Co. acquired a new position in shares of Starbucks during the fourth quarter valued at $25,000. Cornerstone Financial Management LLC bought a new position in Starbucks in the fourth quarter valued at about $25,000. Entrust Financial LLC bought a new position in Starbucks in the fourth quarter valued at about $26,000. Finally, Financial Freedom LLC increased its position in Starbucks by 296.2% in the first quarter. Financial Freedom LLC now owns 313 shares of the coffee company’s stock worth $28,000 after purchasing an additional 234 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Up 0.2%

NASDAQ SBUX opened at $107.92 on Tuesday. Starbucks Corporation has a 12 month low of $77.99 and a 12 month high of $110.51. The stock has a 50-day simple moving average of $104.04 and a 200 day simple moving average of $100.08. The company has a market capitalization of $123.03 billion, a PE ratio of 62.02, a P/E/G ratio of 1.86 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, July 29th. The coffee company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.19. The firm had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.17 billion. Starbucks had a negative return on equity of 34.10% and a net margin of 5.17%.The company’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 earnings per share. Starbucks has set its FY 2026 guidance at 2.550-2.650 EPS. As a group, sell-side analysts predict that Starbucks Corporation will post 2.64 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, August 14th. Starbucks’s dividend payout ratio (DPR) is currently 142.53%.

Analyst Ratings Changes

SBUX has been the subject of several recent research reports. Wells Fargo & Company cut Starbucks from an “overweight” rating to an “underweight” rating in a report on Monday, August 3rd. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $115.00 target price (up from $110.00) on shares of Starbucks in a research note on Thursday, July 30th. BNP Paribas Exane lifted their price target on shares of Starbucks from $87.00 to $92.00 and gave the stock an “underperform” rating in a research report on Thursday, July 30th. TD Cowen assumed coverage on shares of Starbucks in a research note on Thursday, July 30th. They set a “buy” rating and a $120.00 price target for the company. Finally, Scotiabank lowered shares of Starbucks from a “market perform” rating to an “underperform” rating in a report on Thursday, May 14th. Nineteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $109.92.

Insiders Place Their Bets

In related 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 transaction of $236,251.71. Following the completion of the transaction, the chief executive officer owned 75,135 shares in the company, valued at approximately $7,963,558.65. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 6,687 shares of company stock worth $681,663. 0.03% of the stock is owned by company insiders.

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.