Strait & Sound Wealth Management LLC Purchases Shares of 8,213 Starbucks Corporation $SBUX

Strait & Sound Wealth Management LLC purchased a new stake in Starbucks Corporation (NASDAQ:SBUX) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,213 shares of the coffee company’s stock, valued at approximately $839,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Starbucks by 86.5% in the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after acquiring an additional 81,952 shares in the last quarter. Schnieders Capital Management LLC. grew its holdings in Starbucks by 47.0% in the second 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 during the last quarter. Flow Traders U.S. LLC acquired a new position in shares of Starbucks during the second quarter worth $288,000. Gamco Investors INC. ET AL increased its position in shares of Starbucks by 92.8% during the second quarter. Gamco Investors INC. ET AL now owns 5,225 shares of the coffee company’s stock worth $479,000 after purchasing an additional 2,515 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Starbucks by 7.6% during the 2nd quarter. NewEdge Advisors LLC now owns 112,710 shares of the coffee company’s stock valued at $10,328,000 after purchasing an additional 7,978 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SBUX. Sanford C. Bernstein cut Starbucks from an “outperform” rating to a “market perform” rating in a research report on Monday, August 3rd. Citigroup upped their target price on Starbucks from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Needham & Company LLC set a $120.00 price target on Starbucks in a research note on Tuesday, August 18th. Robert W. Baird raised Starbucks to a “strong-buy” rating in a report on Monday, August 24th. Finally, BMO Capital Markets restated an “outperform” rating and set a $130.00 price target on shares of Starbucks in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued 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, Starbucks presently has an average rating of “Hold” and a consensus target price of $110.30.

Insider Buying and Selling

In related news, CEO Brady Brewer sold 2,229 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.99, for a total value of $236,251.71. Following the transaction, the chief executive officer owned 75,135 shares in the company, valued at approximately $7,963,558.65. This represents a 2.88% decrease in their position. The sale was disclosed in a filing 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. Insiders sold a total of 6,687 shares of company stock valued at $681,663 in the last 90 days. 0.03% of the stock is owned by corporate insiders.

Starbucks Trading Up 0.6%

NASDAQ:SBUX opened at $107.85 on Friday. The company has a market capitalization of $122.95 billion, a P/E ratio of 61.98, a PEG ratio of 1.85 and a beta of 0.97. Starbucks Corporation has a 12 month low of $77.99 and a 12 month high of $110.51. The firm has a fifty day simple moving average of $105.10 and a 200-day simple moving average of $100.78.

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

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.62 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.48 dividend on an annualized basis and a yield of 2.3%. Starbucks’s dividend payout ratio is currently 142.53%.

About Starbucks

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.