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Starbucks’ Top Five Shareholders

Posted on by darion

Starbucks Corp. (SBUX) has grown into one of the world’s largest coffee chains, selling an ever-expanding range of products. It is a retailer, roaster and purveyor of private-label specialty coffee. It also sells hot and cold beverages, baked goods and other food items, as well as coffee-related merchandise such as cups, scoops and presses. The first Starbucks opened in Seattle’s historic Pike Place Market in 1971 and went public two decades later, in 1992.

The largest individual shareholders of Starbucks are Mellody Hobson, Michael Aaron Conway, and Rachel Ruggeri. The largest institutional shareholders are Vanguard Group Inc., BlackRock Inc. (BLK), and State Street Corporation.

Starbucks reported trailing-12-month net income of more than $5.56 billion (as of July 2024) and trailing-12-month revenue of $36.5 billion during the same period. As of July 30, 2024, the company’s intraday market capitalization was over $86 billion.

Key conclusions

  • Starbucks is a retailer, roaster, and purveyor of private-label coffee. It also sells other food and merchandise.
  • In mid-2024, the company’s market capitalization exceeded $86 billion.
  • Starbucks’ largest individual shareholders are Mellody Hobson, Michael Aaron Conway and Rachel Ruggeri.
  • The largest institutional shareholders are Vanguard Group Inc., BlackRock Inc. (BLK) and State Street Corporation.

The three largest individual insider shareholders

This list reflects direct ownership. It does not include indirect ownership of shares or shares available through stock options.

The term “insider” refers to senior executives and board members, as well as individuals or entities that own more than 10% of a company’s shares. In this context, it has nothing to do with insider trading.

Melody L. Hobson

As of March 2024, Mellody Hobson owned 728,680 Starbucks shares.

Hobson has served as chairwoman of the Starbucks board of directors since 2021. She was the first Black woman to ever serve as chairwoman of a Fortune 500 company. Hobson served on the Starbucks board of directors from 2003 to 2018.

Michael Aaron Conway

Michael Conway owned 78,304 Starbucks shares as of March 2024.

Mr. Conway was appointed CEO of Starbucks North America in April 2024. He previously served as group president of Starbucks’ International and Channel Development team. Mr. Conway joined Starbucks in 2013 after serving as vice president of marketing at Campbell Soup Company.

Rachel Ruggeri

As of March 2024, Rachel Ruggeri owned 65,341 Starbucks shares.

Ruggeri was named CFO and executive vice president of Starbucks in 2021 after joining the accounting team in 2001. She helped launch the Starbucks Stored Value Card upon arrival. She then held a number of finance positions and was promoted to vice president of corporate finance and planning in 2010.

The three largest institutional shareholders

All of these shareholders are financial services firms. Information about Starbucks’ largest shareholders and the size of their holdings is obtained from required quarterly SEC disclosures. Data from these disclosures is compiled, organized, and displayed by various websites.

Vanguard Inc.

As of March 2024, Vanguard funds held 108.4 million Starbucks shares, representing 9.57% of the total number of shares outstanding with a market value of over $8.2 billion.

Vanguard is one of the world’s largest investment management firms, offering (as of May 2024) 423 low-cost mutual funds and exchange-traded funds (ETFs). As of February 2024, the firm had approximately $8.6 trillion in global assets under management.

Vanguard Total Stock Market ETF (VTI) is one of the company’s largest ETFs, with approximately $375.1 billion in assets under management as of April 30, 2024. 0.21% of VTI’s assets are allocated to Starbucks shares.

BlackRock Inc.

As of March 2024, BlackRock funds held over 76 million Starbucks shares, representing about 6.7% of the total shares outstanding with a market value of $5.7 billion.

BlackRock is one of the world’s leading asset and investment managers, with approximately $10 trillion in assets under management at the end of 2023. The company offers a wide range of mutual funds, iShares ETFs, and closed-end funds. The iShares Core S&P 500 ETF (IVV) is one of BlackRock’s largest ETFs with just under $465 billion in AUM as of May 21, 2024, and 0.20% of IVV’s holdings are Starbucks stock.

State Street Corp.

As of March 2024, State Street funds held about 45.8 million Starbucks shares, representing about 4% of all shares outstanding with a market value of about $3.4 billion.

State Street is a leading asset and investment management firm with approximately $4.3 trillion in assets at the end of the first quarter of 2024. The company offers a wide range of financial products and services to individuals, wealth managers, institutional investors and other clients worldwide.

SPDR S&P 500 ETF Trust (SPY) is one of State Street’s largest ETFs, with approximately $532.7 billion in assets under management as of May 21, 2024. About 0.20% of SPY’s holdings are allocated to Starbucks shares.

What is the Starbucks stock price?

Starbucks shares were valued at around $78 per share in July 2024. Over the course of 52 weeks, the price ranged from $71 to $107.

When does Starbucks pay dividends?

Starbucks pays dividends quarterly, typically in the middle of the quarter. Payments were made on February 23 and May 31, 2024.

How many Starbucks locations are there?

What began as a single location offering freshly roasted coffee beans has grown to 32,000 locations in 80 countries.

Summary

Starbucks is the Goliath of the coffee world, with stores and restaurants worldwide. It also sells baked goods and branded goods.

The largest individual shareholders of Starbucks are Mellody Hobson, Michael Aaron Conway, and Rachel Ruggeri as of 2024. The largest institutional shareholders are Vanguard Group Inc., BlackRock Inc. (BLK), and State Street Corporation. Starbucks reported trailing 12-month net income of over $5.56 billion in July 2024.