Summitry LLC Buys 135,592 Shares of Starbucks Corporation $SBUX

Summitry LLC lifted its position in Starbucks Corporation (NASDAQ:SBUX) by 21.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 761,253 shares of the coffee company’s stock after purchasing an additional 135,592 shares during the quarter. Starbucks comprises about 2.7% of Summitry LLC’s investment portfolio, making the stock its 15th biggest position. Summitry LLC owned about 0.07% of Starbucks worth $64,402,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Transce3nd LLC increased its stake in Starbucks by 270.3% in the 2nd quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock worth $25,000 after acquiring an additional 200 shares during the last quarter. Collier Financial purchased a new position in shares of Starbucks in the third quarter valued at $25,000. MTM Investment Management LLC bought a new stake in Starbucks in the second quarter worth $28,000. PFS Partners LLC raised its stake in Starbucks by 457.4% during the third quarter. PFS Partners LLC now owns 340 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 279 shares in the last quarter. Finally, RMG Wealth Management LLC raised its stake in Starbucks by 109.9% during the third quarter. RMG Wealth Management LLC now owns 382 shares of the coffee company’s stock valued at $33,000 after purchasing an additional 200 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of research reports. Wall Street Zen upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Evercore reiterated an “outperform” rating on shares of Starbucks in a research report on Wednesday, January 28th. Wells Fargo & Company set a $110.00 price objective on Starbucks in a research note on Wednesday, January 28th. Piper Sandler restated an “overweight” rating and set a $103.00 price objective (up from $100.00) on shares of Starbucks in a research report on Friday, January 30th. Finally, Citigroup dropped their target price on Starbucks from $94.00 to $92.00 and set a “neutral” rating for the company in a report on Monday, February 2nd. Eighteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.31.

Starbucks Price Performance

Starbucks stock opened at $93.79 on Monday. The firm has a market capitalization of $106.85 billion, a P/E ratio of 77.51, a price-to-earnings-growth ratio of 2.10 and a beta of 0.96. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The company’s 50-day moving average is $90.22 and its 200 day moving average is $87.25.

Starbucks (NASDAQ:SBUX) last released 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). Starbucks had a net margin of 3.63% and a negative return on equity of 28.66%. The business had revenue of $9.92 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same period in the prior year, the company posted $0.69 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Starbucks has set its FY 2026 guidance at 2.150-2.400 EPS. Research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share 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.