Axxcess Wealth Management LLC Has $1.98 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Axxcess Wealth Management LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 25.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 20,263 shares of the coffee company’s stock after selling 7,067 shares during the period. Axxcess Wealth Management LLC’s holdings in Starbucks were worth $1,975,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after acquiring an additional 470,498 shares in the last quarter. Legal & General Group Plc grew its stake in Starbucks by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after acquiring an additional 221,718 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in shares of Starbucks in the 1st quarter valued at about $415,167,000. Van ECK Associates Corp lifted its position in shares of Starbucks by 108.1% in the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after purchasing an additional 2,324,847 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after purchasing an additional 3,136,992 shares during the period. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Citigroup lifted their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Bank of America reduced their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus increased their price target on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.32.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $100.31 on Tuesday. The stock has a market capitalization of $113.67 billion, a P/E ratio of 30.31, a PEG ratio of 2.83 and a beta of 0.97. The stock’s fifty day moving average is $96.07 and its 200 day moving average is $85.77. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the firm earned $1.06 EPS. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities research analysts forecast that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.43%. Starbucks’s dividend payout ratio is presently 73.72%.

Insider Buying and Selling at Starbucks

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

Starbucks 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.