Twelve Points Wealth Management LLC Invests $693,000 in Starbucks Co. (NASDAQ:SBUX)

Twelve Points Wealth Management LLC purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,106 shares of the coffee company’s stock, valued at approximately $693,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Scarborough Advisors LLC purchased a new stake in shares of Starbucks in the 4th quarter worth approximately $26,000. Kapitalo Investimentos Ltda raised its holdings in Starbucks by 51.1% in the 4th quarter. Kapitalo Investimentos Ltda now owns 615 shares of the coffee company’s stock worth $59,000 after acquiring an additional 208 shares during the last quarter. Montecito Bank & Trust boosted its stake in Starbucks by 13.5% during the 1st quarter. Montecito Bank & Trust now owns 7,568 shares of the coffee company’s stock valued at $692,000 after purchasing an additional 901 shares during the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of Starbucks by 26.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 43,220 shares of the coffee company’s stock worth $3,950,000 after purchasing an additional 9,014 shares in the last quarter. Finally, Cox Capital Mgt LLC raised its stake in shares of Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after purchasing an additional 13,372 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was 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.

Analyst Ratings Changes

Several research firms recently commented on SBUX. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. Morgan Stanley raised their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup upped their price objective on Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $101.84.

Starbucks Stock Up 0.4 %

Shares of Starbucks stock opened at $95.46 on Thursday. The business has a 50-day moving average price of $94.08 and a 200 day moving average price of $84.62. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The firm has a market cap of $108.13 billion, a PE ratio of 26.30, a P/E/G ratio of 2.06 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 EPS for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.00 earnings per share. On average, sell-side analysts expect that Starbucks Co. will post 3.55 EPS for the current 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.