Parsons Capital Management Inc. RI Reduces Stake in Starbucks Corporation $SBUX

Parsons Capital Management Inc. RI lowered its position in Starbucks Corporation (NASDAQ:SBUX) by 57.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 hedge funds also recently bought and sold shares of SBUX. Transce3nd LLC grew its stake in shares of Starbucks by 270.3% during the 2nd quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after purchasing an additional 200 shares during the period. Collier Financial bought a new position in shares of Starbucks in the 3rd quarter worth approximately $25,000. Y.D. More Investments Ltd bought a new position in shares of Starbucks in the 3rd quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new position in shares of Starbucks in the third quarter worth approximately $27,000. Finally, Kelleher Financial Advisors purchased a new position in shares of Starbucks in the third quarter worth approximately $27,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 4.8%

NASDAQ SBUX opened at $86.81 on Friday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $104.82. The stock has a market cap of $98.90 billion, a price-to-earnings ratio of 71.74, a PEG ratio of 1.93 and a beta of 0.93. The company’s 50 day moving average is $95.98 and its two-hundred day moving average is $88.76.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 28th. The coffee company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.03). The firm 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%.The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the company earned $0.69 earnings per share. Starbucks has set its FY 2026 guidance at 2.150-2.400 EPS. Sell-side analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Brady Brewer sold 1,641 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $97.12, for a total value of $159,373.92. Following the completion of the sale, the chief executive officer owned 86,605 shares in the company, valued at approximately $8,411,077.60. This represents a 1.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Sara Kelly sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $97.12, for a total value of $242,800.00. Following the sale, the executive vice president directly owned 59,609 shares in the company, valued at approximately $5,789,226.08. This represents a 4.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 4,729 shares of company stock valued at $460,974 in the last ninety days. 0.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on SBUX shares. Dbs Bank raised shares of Starbucks from a “strong sell” rating to a “moderate sell” rating in a report on Friday, March 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Starbucks in a research note on Monday, December 29th. New Street Research set a $90.00 price objective on shares of Starbucks in a research report on Tuesday, January 27th. Sanford C. Bernstein restated an “outperform” rating on shares of Starbucks in a research note on Wednesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $113.00 target price on shares of Starbucks in a report on Thursday, January 29th. Fifteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.