Axxcess Wealth Management LLC Buys 176 Shares of Starbucks Co. (NASDAQ:SBUX)

Axxcess Wealth Management LLC increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,439 shares of the coffee company’s stock after acquiring an additional 176 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Starbucks were worth $1,865,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Financial Life Planners acquired a new position in shares of Starbucks during the 4th quarter worth approximately $25,000. Collier Financial acquired a new position in shares of Starbucks during the 4th quarter worth approximately $27,000. Marshall Investment Management LLC acquired a new position in shares of Starbucks during the 4th quarter worth approximately $30,000. Noble Wealth Management PBC acquired a new position in shares of Starbucks during the 4th quarter worth approximately $30,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of Starbucks during the 4th quarter worth approximately $36,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Up 0.9 %

Shares of SBUX stock opened at $99.19 on Thursday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The company has a market cap of $112.67 billion, a P/E ratio of 32.00, a P/E/G ratio of 3.59 and a beta of 0.99. The business has a fifty day simple moving average of $105.18 and a 200 day simple moving average of $99.30.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the prior year, the company posted $0.90 earnings per share. As a group, equities research analysts anticipate that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent analyst reports. Wedbush boosted their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research note on Tuesday. UBS Group boosted their price target on Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their price target on Starbucks from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research note on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.12.

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.