Parsons Capital Management Inc. RI Lowers Position in Starbucks Corporation $SBUX

Parsons Capital Management Inc. RI decreased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 57.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,416 shares of the coffee company’s stock after selling 8,583 shares during the period. Parsons Capital Management Inc. RI’s holdings in Starbucks were worth $540,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of SBUX. Norges Bank purchased a new stake in Starbucks in the 2nd quarter worth $1,246,316,000. Capital Research Global Investors grew its position in shares of Starbucks by 11.4% during the third quarter. Capital Research Global Investors now owns 85,460,350 shares of the coffee company’s stock valued at $7,229,968,000 after purchasing an additional 8,774,198 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of Starbucks by 146.6% in the second quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company’s stock worth $553,201,000 after purchasing an additional 3,596,014 shares during the last quarter. Capital International Investors lifted its position in shares of Starbucks by 22.5% in the third quarter. Capital International Investors now owns 14,691,772 shares of the coffee company’s stock worth $1,243,104,000 after buying an additional 2,699,479 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Starbucks by 80.6% in the third quarter. Ameriprise Financial Inc. now owns 5,105,164 shares of the coffee company’s stock worth $433,923,000 after buying an additional 2,277,792 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Shares of SBUX stock opened at $86.81 on Friday. The company has a market cap of $98.90 billion, a PE ratio of 71.74, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $104.82. The stock’s 50 day simple moving average is $95.98 and its two-hundred day simple moving average is $88.76.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, January 28th. The coffee company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.03). The company had revenue of $9.92 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Starbucks had a negative return on equity of 28.66% and a net margin of 3.63%.Starbucks’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. Starbucks has set its FY 2026 guidance at 2.150-2.400 EPS. Equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Insiders Place Their Bets

In other Starbucks news, CEO Brady Brewer sold 588 shares of Starbucks stock in a transaction on Monday, March 9th. The shares were sold at an average price of $100.00, for a total transaction of $58,800.00. Following the completion of the transaction, the chief executive officer directly owned 86,017 shares of the company’s stock, valued at $8,601,700. The trade was a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sara Kelly sold 2,500 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $97.12, for a total transaction of $242,800.00. Following the transaction, the executive vice president owned 59,609 shares in the company, valued at $5,789,226.08. This trade represents a 4.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 4,729 shares of company stock valued at $460,974. 0.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SBUX has been the subject of several research analyst reports. UBS Group restated a “neutral” rating on shares of Starbucks in a report on Friday, January 30th. Wolfe Research initiated coverage on Starbucks in a report on Monday, March 9th. They set a “peer perform” rating on the stock. TD Cowen reiterated a “hold” rating and set a $89.00 target price (up from $84.00) on shares of Starbucks in a research report on Friday, January 30th. Barclays set a $116.00 target price on shares of Starbucks and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $113.00 price target on shares of Starbucks in a research report on Thursday, January 29th. Fifteen equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.81.

Starbucks Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.