Rockland Trust Co. Trims Stock Position in Starbucks Corporation $SBUX

Rockland Trust Co. lessened its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 32.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,137 shares of the coffee company’s stock after selling 8,185 shares during the period. Rockland Trust Co.’s holdings in Starbucks were worth $1,751,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SBUX. Rachor Investment Advisory Services LLC bought a new stake in Starbucks during the 4th quarter valued at $25,000. Phillip James Consulting Co. purchased a new position in shares of Starbucks during the fourth quarter valued at $25,000. Cornerstone Financial Management LLC purchased a new position in shares of Starbucks during the fourth quarter valued at $25,000. Entrust Financial LLC bought a new stake in shares of Starbucks in the fourth quarter valued at about $26,000. Finally, Financial Freedom LLC raised its holdings in shares of Starbucks by 296.2% in the first quarter. Financial Freedom LLC now owns 313 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.4%

SBUX stock opened at $105.58 on Friday. The firm has a 50 day moving average of $102.60 and a 200 day moving average of $99.55. The stock has a market capitalization of $120.36 billion, a PE ratio of 60.68, a price-to-earnings-growth ratio of 1.82 and a beta of 0.97. Starbucks Corporation has a 52 week low of $77.99 and a 52 week high of $109.23.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, July 29th. The coffee company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.19. The business had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.17 billion. Starbucks had a net margin of 5.17% and a negative return on equity of 34.10%. Starbucks’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 EPS. 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 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.3%. Starbucks’s payout ratio is 142.53%.

Analysts Set New Price Targets

SBUX has been the topic of several recent research reports. Wedbush initiated coverage on shares of Starbucks in a report on Thursday, May 14th. They set an “outperform” rating on the stock. Zacks Research lowered shares of Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Raymond James Financial cut shares of Starbucks to an “outperform” rating in a research report on Monday, August 3rd. Robert W. Baird set a $124.00 price objective on shares of Starbucks in a report on Thursday, July 30th. Finally, Citigroup boosted their price objective on shares of Starbucks from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Nineteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $111.96.

Insider Activity

In related news, CEO Brady Brewer sold 2,229 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was 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 in the company, valued at $7,963,558.65. This trade represents a 2.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 6,687 shares of company stock valued at $681,663. 0.03% of the stock is owned by corporate insiders.

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.