Starbucks beverage cups are displayed where customers will receive their orders at a new Starbucks store, its first-ever in partnership with Amazon Go that lets customers check out without a cashier, during a preview of the store which opens on November 18, 2021, on Manhattan's East side in New York City, New York, U.S., November 16, 2021. Mike Segar
Starbucks beverage cups are displayed where customers will receive their orders at a new Starbucks store, its first-ever in partnership with Amazon Go that lets customers check out without a cashier, during a preview of the store which opens on November 18, 2021, on Manhattan's East side in New York City, New York, U.S., November 16, 2021. Mike Segar

Activist investor Elliott builds sizeable stake in Starbucks, says source

July 19th, 2024 | 18:49 PM BUSINESS Retail & Consumer 1

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By Reuters

Activist investor Elliott Investment Management has built a sizeable stake in Starbucks (SBUX.O), a source told Reuters on Friday.

The Wall Street Journal had first reported on the development.

Elliott has been engaging with the coffee chain behind the scenes in recent weeks, according to the WSJ report, which said that the activist has been pushing Starbucks privately to boost its stock price.

Shares of Starbucks were last up over 5% in afternoon trading.

Starbucks and Elliott did not immediately respond to Reuters requests for comment.

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