Assenagon Asset Management S.A. Has $325.26 Million Stock Holdings in Starbucks Corporation $SBUX

Assenagon Asset Management S.A. lifted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 483.8% in the second quarter, Holdings Channel.com reports. The fund owned 3,182,890 shares of the coffee company’s stock after acquiring an additional 2,637,715 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Starbucks were worth $325,260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sunbelt Securities Inc. increased its position in Starbucks by 1.0% during the 1st quarter. Sunbelt Securities Inc. now owns 9,473 shares of the coffee company’s stock valued at $849,000 after purchasing an additional 97 shares during the period. Beta Wealth Group Inc. raised its holdings in Starbucks by 1.7% during the 1st quarter. Beta Wealth Group Inc. now owns 6,114 shares of the coffee company’s stock worth $548,000 after purchasing an additional 103 shares during the last quarter. NWF Advisory Services Inc. lifted its position in shares of Starbucks by 2.6% in the 4th quarter. NWF Advisory Services Inc. now owns 4,349 shares of the coffee company’s stock worth $366,000 after purchasing an additional 109 shares during the period. Godshalk Welsh Capital Management Inc. lifted its position in shares of Starbucks by 0.8% in the 1st quarter. Godshalk Welsh Capital Management Inc. now owns 13,610 shares of the coffee company’s stock worth $1,219,000 after purchasing an additional 110 shares during the period. Finally, Eastern Bank boosted its stake in shares of Starbucks by 0.9% in the 2nd quarter. Eastern Bank now owns 13,115 shares of the coffee company’s stock valued at $1,340,000 after purchasing an additional 111 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. TD Cowen assumed coverage on shares of Starbucks in a research report on Thursday, July 30th. They set a “buy” rating and a $120.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Starbucks from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Compass Point initiated coverage on shares of Starbucks in a research report on Monday. They set a “buy” rating on the stock. Piper Sandler reiterated an “overweight” rating and set a $110.00 price target on shares of Starbucks in a report on Wednesday, April 29th. Finally, Robert W. Baird set a $124.00 price objective on Starbucks in a research report on Thursday, July 30th. Nineteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $111.96.

Starbucks Price Performance

SBUX stock opened at $105.16 on Friday. The stock has a market capitalization of $119.88 billion, a PE ratio of 60.44, a price-to-earnings-growth ratio of 1.83 and a beta of 0.97. The company’s 50-day moving average is $102.47 and its 200-day moving average is $99.51. Starbucks Corporation has a 1 year low of $77.99 and a 1 year high of $109.23.

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

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. Starbucks’s dividend payout ratio (DPR) is 142.53%.

Insider Activity at Starbucks

In other news, CEO Brady Brewer sold 2,229 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.99, for a total transaction of $236,251.71. Following the transaction, the chief executive officer directly owned 75,135 shares of the company’s stock, valued at $7,963,558.65. This represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,687 shares of company stock worth $681,663 in the last ninety days. 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.