Assenagon Asset Management S.A. 13F: Cuts SBUX Stake by $256M

Assenagon Asset Management S.A. made a substantial reduction to its holdings in Starbucks Corporation (NasdaqGS: SBUX), according to a Form 13F filing with the SEC on October 15, 2026. Institutional filings look backward at portfolio holdings as of the end of the reporting period and may not represent the investor's current position today.

What Changed in Assenagon Asset Management S.A.'s Starbucks Position

The fund trimmed its stake by selling 2,724,197 shares during the period. The 85.5% decrease left Assenagon holding 458,693 shares of the coffee chain, valued at about $43,098,794 at the time of the report.

Other Institutional Activity in Starbucks

Other major fund managers made their own adjustments to their Starbucks investments during the same timeframe. Capital Research Global Investors grew its holdings by 7,297,687 shares, ending with 109,649,535 shares worth about $10,693,022,285. Capital World Investors reduced its position, selling 11,839,947 shares to finish with 91,475,472 shares valued at roughly $8,920,687,722. Blackrock Inc. added 3,659,881 shares to bring its total to 83,222,518 shares worth approximately $8,115,859,675. Vanguard Capital Management LLC lifted its stake by 407,135 shares, ending with 74,431,675 shares valued at about $7,258,576,696. State Street Corporation grew its holdings by 1,532,075 shares, owning 49,260,268 shares worth roughly $4,803,861,169.

Starbucks Corporation Stock Up 4.0%

Starbucks shares recently traded around $96.94 as of October 16, 2026. The stock sits below its 50-day moving average of $100.36 and below its 200-day moving average of $99.10. The shares are down 12.3% from their 52-week high of $110.51 and sit 24.3% above their 52-week low of $77.99.

Recent Earnings

For its trailing twelve-month period, Starbucks generated $38,338,301,952 in revenue and basic earnings of $1.73 per share. The company reported a net profit margin of 5.2% alongside a year-over-year revenue drop of 1.4%. Investors look ahead to the company's next earnings report scheduled for October 29, 2026.

Dividend

Starbucks pays an annualized dividend yielding 2.6%, backed by a payout ratio of 142.8%.

Insider Buying and Selling at Starbucks Corporation

Company insiders also transacted in the stock over recent months. Officer Brady Brewer executed a series of sales ahead of the filing, including disposing of 2,229 shares on July 6 at $104.00 for $231,816, another 2,229 shares on August 5 at $105.99 for $236,252, and 2,229 shares on September 4 at $105.60 for $235,382. Brewer later sold 1,641 shares on October 5 at $94.76 for a total value of $155,501.

Analysts Set New Price Targets

Wall Street research firms continue to update their views on the stock. On July 31, 2026, BTIG reiterated its buy rating with a $115.00 price target. Seaport Global initiated coverage on September 16 with a neutral rating. JP Morgan maintained its overweight rating on September 29 while lowering its price target from $112.00 to $105.00. UBS maintained a neutral rating on October 8, dropping its target from $112.00 to $105.00. DA Davidson maintained a neutral rating on October 9 with a $110.00 price target. Across the broader analyst community, Starbucks carries a consensus buy recommendation and a mean price target of $110.97 based on opinions from 29 analysts.

About Starbucks

Starbucks Corporation operates as an international roaster, marketer, and retailer of specialty coffee. Operating across North America, International, and Channel Development segments, the company serves hot and cold beverages, whole bean coffees, and food items through its company-operated and licensed stores.

Bottom Line

Assenagon's sharp reduction in its Starbucks position shows how large institutions alter their portfolios from quarter to quarter. Investors will want to follow the upcoming earnings announcement on October 29 for fresh updates on store performance and profit margins. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.