XTX Topco Ltd Has $515,000 Position in Starbucks Co. (NASDAQ:SBUX)

XTX Topco Ltd cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,614 shares of the coffee company’s stock after selling 241 shares during the quarter. XTX Topco Ltd’s holdings in Starbucks were worth $515,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Cox Capital Mgt LLC increased its position in Starbucks by 41.9% during the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after buying an additional 13,372 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of Starbucks during the 4th quarter valued at about $2,781,000. Sanibel Captiva Trust Company Inc. bought a new position in shares of Starbucks in the 4th quarter valued at approximately $31,246,000. Fidelis Capital Partners LLC lifted its holdings in Starbucks by 18.7% in the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after purchasing an additional 1,751 shares during the last quarter. Finally, TKG Advisors LLC boosted its position in Starbucks by 4.6% during the fourth quarter. TKG Advisors LLC now owns 19,503 shares of the coffee company’s stock worth $1,873,000 after purchasing an additional 860 shares during the period. 72.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SBUX shares. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and lowered their price target for the company from $80.00 to $76.00 in a research report on Tuesday. Bank of America boosted their price objective on Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $99.92.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $94.45 on Wednesday. The business has a fifty day moving average of $87.50 and a two-hundred day moving average of $84.04. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The stock has a market cap of $106.98 billion, a PE ratio of 26.02, a PEG ratio of 2.31 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 for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 earnings per share. Analysts predict that Starbucks Co. will post 3.56 earnings per share for the current year.

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 transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the 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 owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

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.