Parallel Advisors LLC Lowers Stock Position in Starbucks Corporation $SBUX

Parallel Advisors LLC reduced its position in Starbucks Corporation (NASDAQ:SBUX) by 23.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,411 shares of the coffee company’s stock after selling 13,159 shares during the quarter. Parallel Advisors LLC’s holdings in Starbucks were worth $3,588,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Starbucks by 0.5% during the third quarter. Vanguard Group Inc. now owns 113,438,902 shares of the coffee company’s stock valued at $9,596,931,000 after acquiring an additional 577,279 shares during the period. State Street Corp raised its holdings in shares of Starbucks by 1.2% in the 2nd quarter. State Street Corp now owns 47,513,332 shares of the coffee company’s stock worth $4,353,647,000 after purchasing an additional 544,534 shares during the period. Geode Capital Management LLC lifted its stake in shares of Starbucks by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 25,846,634 shares of the coffee company’s stock valued at $2,357,815,000 after purchasing an additional 99,983 shares in the last quarter. Norges Bank acquired a new position in shares of Starbucks in the 2nd quarter valued at about $1,246,316,000. Finally, Invesco Ltd. grew its holdings in shares of Starbucks by 11.2% during the 2nd quarter. Invesco Ltd. now owns 12,757,954 shares of the coffee company’s stock worth $1,169,011,000 after purchasing an additional 1,286,451 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of several research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Starbucks in a report on Monday, December 29th. Bank of America set a $114.00 price objective on shares of Starbucks in a research note on Wednesday, January 21st. Royal Bank Of Canada reissued an “outperform” rating and issued a $105.00 price objective on shares of Starbucks in a research report on Thursday, January 29th. William Blair upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating in a report on Thursday, January 22nd. Finally, Citigroup decreased their price target on shares of Starbucks from $94.00 to $92.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. Seventeen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.22.

Starbucks Trading Up 0.3%

Shares of SBUX stock opened at $98.99 on Monday. The firm has a fifty day simple moving average of $93.71 and a 200-day simple moving average of $87.87. The company has a market capitalization of $112.78 billion, a PE ratio of 81.81, a price-to-earnings-growth ratio of 2.21 and a beta of 0.93. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $106.86.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, January 28th. The coffee company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.03). The firm had revenue of $9.92 billion for 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 quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS. Starbucks has set its FY 2026 guidance at 2.150-2.400 EPS. Equities research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

About Starbucks

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.