Starbucks (SBUX)

• Market cap: $112B
• 1 day: -0.82%
• 5 days: 0.43%
• 1 month: 3.56%
• 3 months: 3.73%
• 6 months: 30.01%
• Year to date: 5.07%
• 1 year: -7.18%
• 5 years: 16.87%
• 10 years: 152.88%
• 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: 381,000

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]

23% more capital invested

Capital invested by funds: $68.5B [Q2] → $84.1B (+$15.6B) [Q3]

21% more call options, than puts

Call options by funds: $4.28B | Put options by funds: $3.53B

11% more first-time investments, than exits

New positions opened: 267 | Existing positions closed: 240

1% more funds holding

Funds holding: 2,217 [Q2] → 2,244 (+27) [Q3]

0.95% less ownership

Funds ownership: 76.93% [Q2] → 75.99% (-0.95%) [Q3]

29% less repeat investments, than reductions

Existing positions increased: 734 | Existing positions reduced: 1,039

Research analyst outlook

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

• Low target: $76 23% downside
• Avg. target: $104 6% upside
• High target: $118 20% upside

23 analyst ratings

• positive: 15 65%
• neutral: 5 22%
• negative: 3 13%

RBC Capital Logan Reich 67% 1-year accuracy 2 / 3 met price target	17% upside $115	Outperform Reiterated	15 Nov 2024
Redburn Atlantic Edward Lewis 0 / 0 met price target	22% downside $77	Sell Downgraded	13 Nov 2024
TD Cowen Andrew Charles 60% 1-year accuracy 74 / 124 met price target	12% upside $110	Buy Reiterated	11 Nov 2024
Citigroup Jon Tower 79% 1-year accuracy 22 / 28 met price target	1% upside $99	Neutral Maintained	31 Oct 2024
Wedbush Nick Setyan 76% 1-year accuracy 74 / 97 met price target	3% downside $95	Neutral Maintained	31 Oct 2024