Xcel Wealth Management LLC Makes New $465,000 Investment in Starbucks Co. (NASDAQ:SBUX)

Xcel Wealth Management LLC purchased a new position in Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,765 shares of the coffee company’s stock, valued at approximately $465,000.

Several other hedge funds have also added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks during the second quarter valued at about $25,000. New Millennium Group LLC bought a new position in Starbucks in the second quarter worth about $26,000. Stephens Consulting LLC raised its stake in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Starbucks in the second quarter worth about $27,000. Finally, Olistico Wealth LLC bought a new position in Starbucks in the second quarter worth about $31,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research note on Wednesday, August 21st. Wedbush reissued a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a research note on Tuesday, August 13th. Bank of America upped their price objective on shares of Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, BTIG Research upped their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.44.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Stock Up 0.4 %

SBUX traded up $0.38 during trading on Tuesday, hitting $96.83. The company’s stock had a trading volume of 1,548,477 shares, compared to its average volume of 11,319,250. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The firm has a market cap of $109.68 billion, a PE ratio of 26.52, a P/E/G ratio of 2.14 and a beta of 0.97. The business’s 50 day simple moving average is $95.29 and its 200-day simple moving average is $84.73.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate 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 the consensus estimate of $9.25 billion. During the same period last year, the firm earned $1.00 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts expect that Starbucks Co. will post 3.55 EPS for the current fiscal year.

About Starbucks

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.