Cercano Management LLC Sells 306,486 Shares of Starbucks Corporation $SBUX

Cercano Management LLC cut its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 99.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,980 shares of the coffee company’s stock after selling 306,486 shares during the quarter. Cercano Management LLC’s holdings in Starbucks were worth $252,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SBUX. Vanguard Group Inc. grew its position in Starbucks by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 113,438,902 shares of the coffee company’s stock worth $9,596,931,000 after purchasing an additional 577,279 shares during the last quarter. State Street Corp grew its position in Starbucks by 1.2% during the second quarter. State Street Corp now owns 47,513,332 shares of the coffee company’s stock worth $4,353,647,000 after buying an additional 544,534 shares in the last quarter. Geode Capital Management LLC increased its stake in Starbucks by 0.4% during the second quarter. Geode Capital Management LLC now owns 25,846,634 shares of the coffee company’s stock valued at $2,357,815,000 after acquiring an additional 99,983 shares during the period. Norges Bank acquired a new position in Starbucks in the 2nd quarter valued at approximately $1,246,316,000. Finally, Invesco Ltd. raised its holdings in Starbucks by 11.2% in the 2nd quarter. Invesco Ltd. now owns 12,757,954 shares of the coffee company’s stock valued at $1,169,011,000 after acquiring an additional 1,286,451 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 1.7%

NASDAQ:SBUX opened at $95.39 on Wednesday. The stock has a market capitalization of $108.68 billion, a P/E ratio of 78.83, a price-to-earnings-growth ratio of 2.10 and a beta of 0.96. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm has a 50 day moving average of $90.69 and a 200-day moving average of $87.34.

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 business had revenue of $9.92 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same period in the prior year, the business earned $0.69 earnings per share. The company’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. As a group, analysts forecast that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Zacks Research raised Starbucks from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 27th. William Blair upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 22nd. Barclays set a $116.00 price target on shares of Starbucks and gave the company an “overweight” rating in a report on Friday, January 30th. Wells Fargo & Company set a $110.00 price objective on shares of Starbucks in a report on Wednesday, January 28th. Finally, Piper Sandler reiterated an “overweight” rating and set a $103.00 target price (up from $100.00) on shares of Starbucks in a research report on Friday, January 30th. Eighteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $104.31.

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.