Starbucks (SBUX)

• Market cap: $102B
• 1 day: -2.34%
• 5 days: 2.96%
• 1 month: -11.25%
• 3 months: -7.59%
• 6 months: 16.80%
• Year to date: -3.82%
• 1 year: -3.82%
• 5 years: 3.03%
• 10 years: 120.27%
• Sector: Consumer Discretionary
• Industry: Eating & Drinking Places

About: Starbucks is one of the most widely recognized restaurant brands in the world, operating more than 40,000 stores across more than 80 countries as of the end of fiscal 2024. The firm operates in three segments: North America, international markets, and channel development (grocery and ready-to-drink beverage). The coffee chain generates revenue from company-operated stores, royalties, sales of equipment and products to license partners, ready-to-drink beverages, packaged coffee sales, and single-serve products.

Employees: 361,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

55% more funds holding in top 10

Funds holding in top 10: 22 [Q2] → 34 (+12) [Q3]

35% more first-time investments, than exits

New positions opened: 268 | Existing positions closed: 198

24% more capital invested

Capital invested by funds: $69.3B [Q2] → $86.2B (+$16.8B) [Q3]

20% more call options, than puts

Call options by funds: $4.3B | Put options by funds: $3.58B

3% more funds holding

Funds holding: 2,220 [Q2] → 2,290 (+70) [Q3]

0.05% less ownership

Funds ownership: 77.91% [Q2] → 77.86% (-0.05%) [Q3]

30% less repeat investments, than reductions

Existing positions increased: 749 | Existing positions reduced: 1,065

Research analyst outlook

13 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $77 15% downside
• Avg. target: $106 17% upside
• High target: $117 30% upside

13 analyst ratings

• positive: 9 69%
• neutral: 3 23%
• negative: 1 8%

Wells Fargo Zachary Fadem 69% 1-year accuracy 24 / 35 met price target	28% upside $115	Overweight Maintained	26 Nov 2024
RBC Capital Logan Reich 35% 1-year accuracy 6 / 17 met price target	28% upside $115	Outperform Reiterated	15 Nov 2024
Redburn Atlantic Edward Lewis 100% 1-year accuracy 2 / 2 met price target	15% downside $77	Sell Downgraded	13 Nov 2024
TD Cowen Andrew Charles 48% 1-year accuracy 58 / 120 met price target	22% upside $110	Buy Reiterated	11 Nov 2024
Citigroup Jon Tower 76% 1-year accuracy 22 / 29 met price target	10% upside $99	Neutral Maintained	31 Oct 2024