Summit Wealth Partners LLC Invests $549,000 in Starbucks Corporation $SBUX

Summit Wealth Partners LLC purchased a new stake in Starbucks Corporation (NASDAQ:SBUX) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 6,128 shares of the coffee company’s stock, valued at approximately $549,000.

A number of other institutional investors have also recently bought and sold shares of SBUX. Financial Management Network Inc. raised its holdings in Starbucks by 11.0% during the 1st quarter. Financial Management Network Inc. now owns 3,040 shares of the coffee company’s stock worth $295,000 after buying an additional 301 shares during the period. Clark Asset Management LLC lifted its stake in Starbucks by 25.8% during the first quarter. Clark Asset Management LLC now owns 3,246 shares of the coffee company’s stock valued at $291,000 after buying an additional 665 shares in the last quarter. Brookstone Capital Management boosted its holdings in shares of Starbucks by 13.9% in the first quarter. Brookstone Capital Management now owns 22,975 shares of the coffee company’s stock worth $2,058,000 after buying an additional 2,796 shares during the period. Campbell Newman Asset Management Inc. boosted its holdings in shares of Starbucks by 1,640.3% in the first quarter. Campbell Newman Asset Management Inc. now owns 229,350 shares of the coffee company’s stock worth $20,547,000 after buying an additional 216,171 shares during the period. Finally, Smith Salley Wealth Management increased its position in shares of Starbucks by 8.1% in the first quarter. Smith Salley Wealth Management now owns 41,781 shares of the coffee company’s stock worth $3,743,000 after acquiring an additional 3,118 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Sara Kelly sold 2,000 shares of the company’s stock in a transaction 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 directly owned 57,653 shares of the company’s stock, valued at approximately $6,053,565. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $100.00, for a total value of $58,800.00. Following the sale, the chief executive officer owned 79,593 shares of the company’s stock, valued at approximately $7,959,300. This represents 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 have sold a total of 8,687 shares of company stock valued at $863,707 in the last three months. Company insiders own 0.03% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX opened at $100.15 on Tuesday. The firm has a market capitalization of $114.14 billion, a price-to-earnings ratio of 75.87, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98. The company has a 50 day simple moving average of $101.06 and a 200-day simple moving average of $95.34. Starbucks Corporation has a 52-week low of $77.99 and a 52-week high of $108.88.

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

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Starbucks from $99.00 to $101.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. BNP Paribas Exane began coverage on shares of Starbucks in a research report on Thursday, May 14th. They set an “underperform” rating on the stock. Wolfe Research started coverage on shares of Starbucks in a research note on Monday, March 9th. They set a “peer perform” rating on the stock. Citizens Jmp assumed coverage on shares of Starbucks in a research note on Monday, March 30th. They set an “underperform” rating and a $84.00 target price on the stock. Finally, Tigress Financial began coverage on Starbucks in a report on Wednesday, April 15th. They issued a “buy” rating and a $122.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $108.59.

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.