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

Cercano Management LLC reduced its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 99.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Transce3nd LLC raised its position in shares of Starbucks by 270.3% during the second quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock worth $25,000 after acquiring an additional 200 shares during the last quarter. Collier Financial acquired a new stake in Starbucks in the third quarter worth about $25,000. MTM Investment Management LLC bought a new stake in Starbucks during the 2nd quarter worth about $28,000. PFS Partners LLC lifted its position in Starbucks by 457.4% during the 3rd quarter. PFS Partners LLC now owns 340 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 279 shares during the period. Finally, RMG Wealth Management LLC lifted its position in Starbucks by 109.9% during the 3rd quarter. RMG Wealth Management LLC now owns 382 shares of the coffee company’s stock valued at $33,000 after purchasing an additional 200 shares during the period. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Piper Sandler reiterated an “overweight” rating and set a $103.00 price target (up previously from $100.00) on shares of Starbucks in a research report on Friday, January 30th. TD Cowen reaffirmed a “hold” rating and set a $89.00 target price (up previously from $84.00) on shares of Starbucks in a report on Friday, January 30th. Citigroup cut their price target on Starbucks from $94.00 to $92.00 and set a “neutral” rating on the stock in a research note on Monday, February 2nd. BTIG Research reaffirmed a “buy” rating and set a $105.00 price objective on shares of Starbucks in a research note on Thursday, January 29th. Finally, Guggenheim reiterated a “buy” rating and issued a $90.00 price objective on shares of Starbucks in a report on Monday, January 26th. Eighteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $104.31.

Starbucks Stock Performance

Shares of SBUX opened at $95.39 on Wednesday. The stock has a 50 day simple moving average of $90.69 and a 200 day simple moving average of $87.34. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The firm has a market capitalization of $108.68 billion, a PE ratio of 78.83, a P/E/G ratio of 2.10 and a beta of 0.96.

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

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.