Fulcrum Asset Management LLP Sells 12,023 Shares of Starbucks Corporation $SBUX

Fulcrum Asset Management LLP lessened its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 63.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,981 shares of the coffee company’s stock after selling 12,023 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Starbucks were worth $666,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Starbucks in the 2nd quarter valued at approximately $8,504,509,000. State Street Corp raised its holdings in shares of Starbucks by 3.2% in the 2nd quarter. State Street Corp now owns 49,260,268 shares of the coffee company’s stock worth $5,033,907,000 after buying an additional 1,530,497 shares in the last quarter. Bank of America Corp DE increased its position in shares of Starbucks by 9.0% during the 1st quarter. Bank of America Corp DE now owns 15,761,355 shares of the coffee company’s stock worth $1,412,060,000 after purchasing an additional 1,300,085 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Starbucks by 26.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,506,482 shares of the coffee company’s stock worth $869,277,000 after acquiring an additional 1,767,530 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Starbucks in the second quarter worth $779,790,000. Institutional investors own 72.29% of the company’s stock.

Recent Starbucks Headlines

These are some of the SBUX headlines that stood out recently:

• Positive Sentiment: CEO Brian Niccol highlighted plans to attract afternoon customers with protein and collagen drinks and to improve the drive-through experience. These initiatives could create new sales opportunities, though their impact will depend on customer demand and execution. Starbucks’ plan to get the afternoon crowd? Protein and collagen.
• Negative Sentiment: South Korean sales figures have renewed concern about the company’s performance in that market, with one report linking the figures to pressure on the shares. Starbucks Stock Slips as Korean Sales Figures Come In
• Negative Sentiment: Citi maintained a Hold rating and a $107 price target, citing a balance between turnaround progress and valuation and execution risks. Separately, Starbucks’ 2027 outlook reportedly points to slightly lower revenue as its China business changes models, while the stock had already rallied strongly. Starbucks Hold Maintained as Turnaround Progress Faces Valuation and Execution Risks Has Starbucks Run Too Far Ahead As Fresh 2027 Guidance Resets Valuation?

Analysts Set New Price Targets

A number of analysts recently weighed in on SBUX shares. Sanford C. Bernstein lowered shares of Starbucks from an “outperform” rating to a “market perform” rating in a report on Monday, August 3rd. Deutsche Bank reissued a “buy” rating and set a $126.00 price target (up from $120.00) on shares of Starbucks in a research note on Thursday, July 30th. Jefferies Financial Group increased their price objective on shares of Starbucks from $95.00 to $101.00 and gave the company a “hold” rating in a report on Thursday, July 30th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $115.00 price objective (up from $110.00) on shares of Starbucks in a research note on Thursday, July 30th. Finally, Stifel Nicolaus assumed coverage on shares of Starbucks in a research note on Monday. They issued a “buy” rating and a $115.00 price objective on the stock. Twenty-one investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $108.83.

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 Thursday, November 5th. The shares were sold at an average price of $110.00, for a total transaction of $245,190.00. Following the completion of the transaction, the chief executive officer owned 68,691 shares in the company, valued at approximately $7,556,010. The trade was a 3.14% 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 $694,874. 0.03% of the stock is owned by company insiders.

Starbucks Trading Down 2.4%

Shares of SBUX opened at $107.26 on Friday. Starbucks Corporation has a 1 year low of $81.97 and a 1 year high of $111.50. The stock has a market cap of $122.28 billion, a P/E ratio of 40.55, a price-to-earnings-growth ratio of 1.82 and a beta of 1.01. The stock’s 50-day moving average price is $99.34 and its two-hundred day moving average price is $100.30.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, October 29th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.08. The company had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.22 billion. Starbucks had a negative return on equity of 38.61% and a net margin of 6.66%. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 EPS. As a group, equities analysts forecast that Starbucks Corporation will post 3.22 EPS for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, November 13th. This is a positive change from Starbucks’s previous quarterly dividend of $0.62. Starbucks’s payout ratio is 112.22%.

About Starbucks

Starbucks Corporation is a global coffee company that roasts, markets and sells coffee and other beverages, along with food and related merchandise. Its offerings include brewed coffee, espresso-based drinks, teas and packaged coffee products. The company serves customers through company-operated and licensed stores, as well as through retail and food-service partnerships. Its stores also sell items such as mugs and coffee-making equipment. Founded in Seattle in 1971, Starbucks operates in North America and international markets, including China.