Xcel Wealth Management LLC Purchases 5,560 Shares of Starbucks Corporation $SBUX

Key Points

• Xcel Wealth Management LLC increased its holdings in Starbucks Corporation by 112.2%, acquiring 5,560 shares to reach a total of 10,514 shares valued at approximately $963,000.
• Starbucks recently reported earnings of $0.50 per share, falling short of analyst estimates by $0.14, despite achieving revenues of $9.46 billion for the quarter.
• Institutional investors hold 72.29% of Starbucks' stock, indicating strong institutional interest in the company as various investors continue to adjust their stakes.

Xcel Wealth Management LLC raised its position in Starbucks Corporation (NASDAQ:SBUX - Free Report) by 112.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,514 shares of the coffee company's stock after acquiring an additional 5,560 shares during the period. Xcel Wealth Management LLC's holdings in Starbucks were worth $963,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Napa Wealth Management bought a new position in Starbucks in the first quarter worth $1,435,000. Czech National Bank raised its stake in shares of Starbucks by 6.2% in the 1st quarter. Czech National Bank now owns 260,898 shares of the coffee company's stock valued at $25,591,000 after buying an additional 15,132 shares in the last quarter. Personal CFO Solutions LLC raised its stake in shares of Starbucks by 125.5% in the 1st quarter. Personal CFO Solutions LLC now owns 9,254 shares of the coffee company's stock valued at $908,000 after buying an additional 5,151 shares in the last quarter. First Manhattan CO. LLC. lifted its holdings in shares of Starbucks by 33.1% during the 1st quarter. First Manhattan CO. LLC. now owns 446,294 shares of the coffee company's stock worth $43,777,000 after acquiring an additional 111,015 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Starbucks during the 1st quarter valued at about $998,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SBUX shares. Loop Capital set a $165.00 price target on shares of Starbucks in a research report on Tuesday, August 12th. CICC Research initiated coverage on Starbucks in a research note on Monday, June 30th. They issued an "outperform" rating and a $100.00 price objective on the stock. TD Cowen raised their target price on Starbucks from $90.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Citigroup decreased their price target on Starbucks from $100.00 to $99.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Finally, Barclays upped their price target on Starbucks from $106.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $104.40.

Starbucks Stock Down 1.7%

Shares of NASDAQ:SBUX opened at $84.27 on Thursday. The firm has a market cap of $95.79 billion, a P/E ratio of 36.32, a P/E/G ratio of 5.12 and a beta of 1.00. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The company's 50-day moving average price is $88.87 and its two-hundred day moving average price is $89.27.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%.The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the prior year, the firm posted $0.93 earnings per share. The company's revenue was up 3.8% on a year-over-year basis. As a group, equities analysts predict that Starbucks Corporation will post 2.99 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.

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