Starbucks Corp. (SBUX) has grown into one of the world’s biggest coffeehouse chains by selling an ever-growing selection of products. It’s a retailer, roaster, and provider of its own brand of specialty coffee. It also sells hot and cold beverage products, baked goods and other food items, as well as coffee-related merchandise like mugs, scoops, and presses.
The first Starbucks opened in 1971 at Seattle’s historic Pike Place Market and went public two decades later in 1992. From its beginning as a single storefront serving fresh-roasted whole bean coffees, the company now has 32,000 stores in scores of countries. Starbucks earned net income of $4.1 billion on annual revenue of just under $36 billion for the fiscal year ending October 1, 2023. It has a total market capitalization of over $88.3 billion as of May 2024.
Below, we’ll look at the top five shareholders in Starbucks based on the number of shares owned. As of the first quarter of 2024, all five of these shareholders are financial services companies. Former Chief Executive Officer (CEO) and founder of Starbucks Howard Schultz is no longer one of the top five shareholders. Information about the top shareholders of Starbucks and the size of their holdings comes from required quarterly SEC disclosures. Data from these disclosures is compiled, organized, and displayed by various websites. This article is currently up to date with data from the first quarter of 2024’s disclosures.
Vanguard Inc.
Vanguard is one of the world’s largest investment management companies, offering 423 low-cost mutual funds and exchange-traded funds (ETFs) as of May 2024. The firm had about $8.6 trillion in global assets under management (AUM) as of February 2024. As of the first quarter of 2024, Vanguard’s funds hold more than 108 million shares of Starbucks, comprising 9.42% of the total number of shares outstanding with a market value of over $9.9 billion. The Vanguard Total Stock Market ETF (VTI) is one of the company’s largest ETFs with about $375.1 billion under management as of April 30, 2024. At the same time period, 0.21% of VTI’s holdings are allocated to shares of Starbucks.
BlackRock Inc.
BlackRock is one of the world’s leading asset and investment management firms with approximately $10 trillion in AUM as of the end of 2023. The firm offers a wide range of mutual funds, iShares ETFs and closed-end funds. BlackRock’s funds hold over 76 million shares of Starbucks, comprising about 6.6% of the total number of shares outstanding with a market value of $6.9 billion. The iShares Core S&P 500 ETF (IVV) is one of BlackRock’s largest ETFs with just below 465 billion in AUM as of May 21, 2024. 0.20% of IVV’s holdings are shares of Starbucks.
State Street Corp.
State Street is a leading asset and investment management company with approximately $4.3 trillion in AUM at the close of 2024’s first quarter. The firm provides a range of financial products and services to individuals, wealth managers, institutional investors, and other clients around the world. State Street’s funds hold approximately 45.8 million shares of Starbucks, comprising about 3.99% of total shares outstanding with a market value of about $4.2 billion, according to Q1 2024 disclosures. The SPDR S&P 500 ETF Trust (SPY) is one of State Street’s largest ETFs with about $532.7 billion in AUM as of May 21, 2024. 0.20% of SPY’s holdings are allocated to shares of Starbucks.
Morgan Stanley
Morgan Stanley is a venerable investment bank, also offering investment management services and other financial services. Morgan Stanley holds over 28.2 million shares of Starbucks, comprising 2.46% of the total number of shares outstanding with a market value of over $2.5 billion. Unlike the previous three Starbucks shareholders, Morgan Stanley is not a top provider of ETFs. While it offers some under multiple brand names, they are not the main focus of its business, and are much smaller than ETFs from BlackRock, Vanguard, and State Street. In addition to being held by funds, Starbucks shares are likely held by other divisions of the firm as well.
Geode Capital Management, LLC
Geode Capital Management is an asset manager providing solutions for institutional investors. The firm offers clients exposure to equities as well as niche asset classes. Geode was founded in 2001, and had about $1.3 trillion in assets under management as of March 31, 2024. Geode Capital Management held over 23 million Starbucks shares at the end of the first quarter of 2024. This represents a 2.03% ownership stake in Starbucks, and these shares have a market value of over $2.1 billion.
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