Summit Wealth Partners LLC Buys Shares of 6,128 Starbucks Corporation $SBUX

Summit Wealth Partners LLC bought a new position in Starbucks Corporation (NASDAQ:SBUX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,128 shares of the coffee company’s stock, valued at approximately $549,000.

A number of other hedge funds also recently made changes to their positions in SBUX. Brighton Jones LLC increased its position in Starbucks by 86.5% in the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after acquiring an additional 81,952 shares during the period. Schnieders Capital Management LLC. boosted its position in Starbucks by 47.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 3,642 shares of the coffee company’s stock worth $334,000 after acquiring an additional 1,164 shares during the period. Flow Traders U.S. LLC acquired a new position in Starbucks during the 2nd quarter worth $288,000. Gamco Investors INC. ET AL grew its stake in shares of Starbucks by 92.8% in the second quarter. Gamco Investors INC. ET AL now owns 5,225 shares of the coffee company’s stock worth $479,000 after purchasing an additional 2,515 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Starbucks by 7.6% in the second quarter. NewEdge Advisors LLC now owns 112,710 shares of the coffee company’s stock worth $10,328,000 after purchasing an additional 7,978 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent analyst reports. Sanford C. Bernstein restated an “outperform” rating on shares of Starbucks in a research note on Wednesday, March 4th. Wedbush began coverage on shares of Starbucks in a research report on Thursday, May 14th. They issued an “outperform” rating for the company. Royal Bank Of Canada cut shares of Starbucks from a “sector perform” rating to a “positive” rating in a research note on Thursday, May 14th. Wolfe Research assumed coverage on shares of Starbucks in a research report on Monday, March 9th. They set a “peer perform” rating on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price target on shares of Starbucks in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $108.59.

Insider Transactions at Starbucks

In other news, EVP Sara Kelly sold 2,000 shares of Starbucks stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $105.00, for a total value of $210,000.00. Following the transaction, the executive vice president owned 57,653 shares of the company’s stock, valued at $6,053,565. The trade was a 3.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brady Brewer sold 588 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $100.00, for a total transaction of $58,800.00. Following the completion of the sale, the chief executive officer owned 79,593 shares in the company, valued at $7,959,300. The trade was a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 8,687 shares of company stock valued at $863,707 over the last three months. 0.03% of the stock is owned by corporate insiders.

Starbucks Stock Performance

SBUX opened at $100.15 on Tuesday. The company has a market capitalization of $114.14 billion, a PE ratio of 75.87, a P/E/G ratio of 2.00 and a beta of 0.98. The stock’s fifty day moving average is $101.06 and its 200-day moving average is $95.34. Starbucks Corporation has a one year low of $77.99 and a one year high of $108.88.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 28th. The coffee company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.06. The business had revenue of $9.53 billion during the quarter, compared to analysts’ expectations of $9.17 billion. Starbucks had a negative return on equity of 29.24% and a net margin of 3.89%.The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $0.41 earnings per share. Starbucks has set its FY 2026 guidance at 2.250-2.450 EPS. On average, equities research analysts forecast that Starbucks Corporation will post 2.4 EPS for the current fiscal year.

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.