Westpac Banking Corp Sells 17,098 Shares of Starbucks Corporation $SBUX

Westpac Banking Corp trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 60.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,249 shares of the coffee company’s stock after selling 17,098 shares during the period. Westpac Banking Corp’s holdings in Starbucks were worth $952,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SBUX. Brighton Jones LLC boosted its stake in shares of Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after acquiring an additional 81,952 shares during the period. Schnieders Capital Management LLC. boosted its stake in Starbucks by 47.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 3,642 shares of the coffee company’s stock worth $334,000 after purchasing an additional 1,164 shares in the last quarter. Bessemer Group Inc. increased its holdings in Starbucks by 1.8% in the 2nd quarter. Bessemer Group Inc. now owns 58,284 shares of the coffee company’s stock worth $5,341,000 after buying an additional 1,041 shares during the period. Austin Private Wealth LLC raised its stake in shares of Starbucks by 10.0% during the 2nd quarter. Austin Private Wealth LLC now owns 2,436 shares of the coffee company’s stock valued at $223,000 after buying an additional 221 shares during the last quarter. Finally, Waterfront Wealth Inc. increased its holdings in Starbucks by 30.8% in the second quarter. Waterfront Wealth Inc. now owns 5,100 shares of the coffee company’s stock valued at $467,000 after buying an additional 1,200 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

NASDAQ SBUX opened at $98.05 on Friday. The firm has a market capitalization of $111.71 billion, a price-to-earnings ratio of 81.03, a PEG ratio of 2.19 and a beta of 0.96. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The company’s 50 day moving average price is $92.23 and its 200 day moving average price is $87.69.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, January 28th. The coffee company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.03). Starbucks had a net margin of 3.63% and a negative return on equity of 28.66%. The firm had revenue of $9.92 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period in the previous year, the business posted $0.69 earnings per share. Starbucks’s revenue for the quarter was up 5.5% on a year-over-year basis. Starbucks has set its FY 2026 guidance at 2.150-2.400 EPS. Sell-side analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on SBUX shares. Piper Sandler reissued an “overweight” rating and issued a $103.00 price objective (up from $100.00) on shares of Starbucks in a report on Friday, January 30th. Wall Street Zen raised shares of Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Starbucks in a research report on Monday, December 29th. Mizuho lifted their target price on Starbucks from $86.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, January 26th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $120.00 price target on shares of Starbucks in a report on Friday, January 30th. Eighteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.31.

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.