The Vanguard Group, Inc. recently announced the acquisition of new stake in Starbucks Corp. (NASDAQ:SBUX). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.34% to 102.09 million shares with purchase of 0.34 million shares. This fresh investment now brings its stake to 8.98% valued currently at $10.14 billion. In addition, Geode Capital Management LLC raised its holdings by 0.4 million to 22.35 million shares. And Northern Trust Investments, Inc. has lifted its position by 0.92% or 0.13 million shares – to 13.85 million shares.
Currently, there are 1.14B common shares owned by the public and among those 1.11B shares have been available to trade.
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Insiders at the company have transacted a total of 36 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 213,978 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 43,790 shares.
The top 3 mutual fund holders in Starbucks Corp. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Invesco QQQ Trust. Vanguard Total Stock Market ETF owns 35.85 million shares of the company’s stock, all valued at over $3.56 billion. The company bought an additional 0.17 million shares recently to bring their total holdings to about 3.15% of the shares outstanding. Vanguard 500 Index Fund bought 0.13 million shares to see its total holdings expand to 27.66 million shares valued at over $2.75 billion and representing 2.43% of the shares outstanding. Invesco QQQ Trust sold 67564.0 shares to bring its total holdings to over 19.93 million shares at a value of $1.98 billion. Invesco QQQ Trust now owns shares totaling to 1.75% of the shares outstanding.
The company’s stock has a 5-day price change of -1.59% and 1.33% over the past three months. SBUX shares are trading -2.66% year to date (YTD), with the 12-month market performance down to -3.43% lower. It has a 12-month low price of $89.21 and touched a high of $115.48 over the same period. SBUX has an average intraday trading volume of 7.51 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.14%, -1.58%, and -3.44% respectively.
Institutional ownership of Starbucks Corp. (NASDAQ: SBUX) shares accounts for 71.72% of the company’s 1.14B shares outstanding. Mutual fund holders own 35.31%, while other institutional holders and individual stakeholders account for 36.86% and 2.54% respectively.
It has a market capitalization of $109.76B and a beta (3y monthly) value of 0.99. The stock’s trailing 12-month PE ratio is 26.95, while the earnings-per-share (ttm) stands at $3.58. The company has a PEG of 1.58 and a Quick Ratio of 0.59. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.59% over the week and 1.64% over the month.
Analysts forecast that Starbucks Corp. (SBUX) will achieve an EPS of $0.88 for the current quarter, $0.82 for the next quarter and $4.43 for 2025. The lowest estimate earnings-per-share for the quarter is $0.81 while analysts give the company a high EPS estimate of $1. Comparatively, EPS for the current quarter was $0.75 a year ago. Earnings per share for the fiscal year are expected to increase by 16.77%, and 16.69% over the next financial year. EPS should grow at an annualized rate of 17.11% over the next five years, compared to 2.03% over the past 5-year period.
Looking at the support for the SBUX, a number of firms have released research notes about the stock. Deutsche Bank stated their Buy rating for the stock in a research note on October 19, 2023, with the firm’s price target at $118.
