Keystone Wealth Services LLC Has $990,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Keystone Wealth Services LLC lifted its position in Starbucks Co. (NASDAQ:SBUX) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,151 shares of the coffee company’s stock after purchasing an additional 130 shares during the quarter. Keystone Wealth Services LLC’s holdings in Starbucks were worth $990,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the second quarter worth $25,000. Scarborough Advisors LLC acquired a new position in Starbucks during the fourth quarter worth $26,000. New Millennium Group LLC acquired a new position in Starbucks during the second quarter worth $26,000. Stephens Consulting LLC raised its stake in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in Starbucks during the second quarter worth $27,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SBUX. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and raised their target price for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Barclays raised their target price on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and raised their target price for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Finally, Morgan Stanley restated an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $101.16.

Insider Activity at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred 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 owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Starbucks Trading Up 0.3 %

Shares of NASDAQ SBUX traded up $0.28 during mid-day trading on Tuesday, reaching $95.04. 6,156,094 shares of the company’s stock were exchanged, compared to its average volume of 11,479,788. The firm has a market capitalization of $107.65 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.06 and a beta of 0.97. The business has a fifty day simple moving average of $93.28 and a 200 day simple moving average of $84.52. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 earnings per share. Equities research analysts predict that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

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.