Resona Asset Management Co. Ltd. Has $32.77 Million Holdings in Starbucks Corporation $SBUX

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Vanguard Group Inc. lifted its holdings in shares of Starbucks by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 114,410,675 shares of the coffee company’s stock valued at $9,634,523,000 after purchasing an additional 971,773 shares in the last quarter. Capital World Investors increased its stake in Starbucks by 9.0% during the 4th quarter. Capital World Investors now owns 84,727,405 shares of the coffee company’s stock worth $7,135,228,000 after purchasing an additional 7,007,268 shares in the last quarter. State Street Corp raised its holdings in Starbucks by 0.7% during the 4th quarter. State Street Corp now owns 47,869,056 shares of the coffee company’s stock worth $4,031,053,000 after buying an additional 327,161 shares during the period. Geode Capital Management LLC lifted its stake in Starbucks by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 26,373,084 shares of the coffee company’s stock valued at $2,212,153,000 after buying an additional 225,168 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Starbucks by 65.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 19,447,854 shares of the coffee company’s stock valued at $1,637,704,000 after buying an additional 7,725,547 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Up 0.2%

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

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

Starbucks Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently issued reports on SBUX. Stifel Nicolaus set a $117.00 price objective on shares of Starbucks and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Robert W. Baird set a $124.00 price objective on shares of Starbucks in a research report on Thursday, July 30th. Stephens began coverage on shares of Starbucks in a research note on Thursday, May 14th. They issued an “overweight” rating for the company. Piper Sandler reiterated an “overweight” rating and set a $110.00 target price on shares of Starbucks in a report on Wednesday, April 29th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $130.00 price target on shares of Starbucks 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $109.92.

Insider Buying and Selling

In other news, CEO Brady Brewer sold 2,229 shares of the stock in a transaction dated 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 directly owned 75,135 shares in the company, valued at $7,963,558.65. This represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 6,687 shares of company stock worth $681,663. Insiders own 0.03% of the company’s stock.

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.