Atlantic Union Bankshares Corp boosted its position in Starbucks Corporation by 29.8% during the third quarter, acquiring 18,633 additional shares to reach a total holding of 81,177 shares. At quarter-end, this stake was valued at approximately $6.87 million. This move underscores growing confidence among regional financial institutions in Starbucks’ long-term growth prospects. Notably, 72.29% of Starbucks’ outstanding shares are held by hedge funds and other institutional investors, reflecting broad market endorsement of the company’s strategic initiatives, including menu innovation and international expansion.

In the past week, five major brokerages updated their views on Starbucks: Citigroup downgraded to Neutral with a target of $92, TD Cowen maintained a Hold rating but raised its target to $89, BMO Capital Markets reaffirmed Outperform at $120, Barclays reiterated Overweight at $116, and Sanford C. Bernstein upheld its Outperform stance. Collectively, analysts maintain a consensus Moderate Buy rating, with 18 Buy recommendations, eight Holds and two Sells, and an average price target of $104.67. These assessments reflect optimism about Starbucks’ ability to sustain mid-single-digit revenue growth through its digital loyalty program and new store formats, even as margin pressures persist.