Drucker Wealth 3.0 LLC Makes New $3.48 Million Investment in Starbucks Co. (NASDAQ:SBUX)

Drucker Wealth 3.0 LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 44,692 shares of the coffee company’s stock, valued at approximately $3,479,000.

Other hedge funds have also modified their holdings of the company. Vima LLC acquired a new stake in Starbucks in the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new position in shares of Starbucks in the fourth quarter valued at $26,000. New Millennium Group LLC acquired a new stake in Starbucks during the 2nd quarter valued at $26,000. Stephens Consulting LLC increased its stake in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new position in Starbucks in the 2nd quarter worth $27,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SBUX shares. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Barclays upped their target price on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and increased their target price for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Finally, Bank of America lifted their price target on shares of Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.92.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated 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 directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Up 1.2 %

Starbucks stock opened at $95.62 on Thursday. The firm has a 50-day moving average price of $87.50 and a two-hundred day moving average price of $84.04. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market capitalization of $108.36 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 2.29 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion during 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%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.00 EPS. Research analysts expect that Starbucks Co. will post 3.56 earnings per share 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.