Axxcess Wealth Management LLC Buys 13,495 Shares of Starbucks Co. (NASDAQ:SBUX)

Axxcess Wealth Management LLC grew its stake in Starbucks Co. (NASDAQ:SBUX) by 97.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 27,330 shares of the coffee company’s stock after purchasing an additional 13,495 shares during the period. Axxcess Wealth Management LLC’s holdings in Starbucks were worth $2,128,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Ontario Teachers Pension Plan Board bought a new stake in Starbucks in the first quarter worth $415,167,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Starbucks in the 2nd quarter worth about $243,910,000. Flossbach Von Storch AG boosted its stake in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares during the period. Capital World Investors bought a new position in Starbucks during the 1st quarter valued at about $257,721,000. Finally, Van ECK Associates Corp raised its position in Starbucks by 108.1% in the 2nd 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 during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased 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 in the company, valued at $3,316,143. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated 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 of the company’s stock, valued at $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SBUX shares. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. The Goldman Sachs Group assumed coverage on Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Finally, BMO Capital Markets lifted their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.08.

Starbucks Stock Down 0.3 %

SBUX stock opened at $96.12 on Thursday. The firm has a market cap of $108.92 billion, a P/E ratio of 26.48, a PEG ratio of 2.38 and a beta of 0.96. The company’s 50-day simple moving average is $85.77 and its 200-day simple moving average is $83.98. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 EPS. On average, analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

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.