Xcel Wealth Management LLC Buys New Stake in Starbucks Co. (NASDAQ:SBUX)

Xcel Wealth Management LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,765 shares of the coffee company’s stock, valued at approximately $465,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SBUX. RFG Advisory LLC boosted its stake in shares of Starbucks by 5.2% during the 1st quarter. RFG Advisory LLC now owns 10,353 shares of the coffee company’s stock worth $946,000 after purchasing an additional 513 shares during the period. AdvisorNet Financial Inc grew its position in shares of Starbucks by 45.5% in the 1st quarter. AdvisorNet Financial Inc now owns 2,024 shares of the coffee company’s stock worth $185,000 after buying an additional 633 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of Starbucks in the 1st quarter worth approximately $3,219,000. Gateway Investment Advisers LLC grew its position in Starbucks by 1.5% during the 1st quarter. Gateway Investment Advisers LLC now owns 73,834 shares of the coffee company’s stock worth $6,748,000 after purchasing an additional 1,079 shares during the last quarter. Finally, Fermata Advisors LLC purchased a new stake in Starbucks during the 1st quarter worth approximately $350,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on SBUX shares. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and increased their target price for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. BTIG Research upped their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Morgan Stanley upped their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $102.44.

Starbucks Stock Up 0.4 %

NASDAQ:SBUX traded up $0.38 during midday trading on Tuesday, reaching $96.83. The stock had a trading volume of 1,548,477 shares, compared to its average volume of 11,319,250. The firm has a fifty day simple moving average of $95.29 and a two-hundred day simple moving average of $84.73. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The stock has a market cap of $109.68 billion, a P/E ratio of 26.52, a P/E/G ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the company posted $1.00 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.