Starbucks Co. (NASDAQ:SBUX) CFO Sells $300,000.00 in Stock

Starbucks Co. (NASDAQ:SBUX) CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Starbucks Trading Up 0.7 %

Shares of Starbucks stock traded up $0.56 during trading on Friday, hitting $78.87. 10,744,425 shares of the stock traded hands, compared to its average volume of 10,282,116. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66. The stock’s fifty day simple moving average is $84.31 and its 200 day simple moving average is $92.05. The firm has a market cap of $89.34 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 3.59 EPS for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is currently 62.81%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SBUX. Stephens reissued an “equal weight” rating and set a $110.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. TD Cowen reduced their price target on shares of Starbucks from $100.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. William Blair cut Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. cut their target price on Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Finally, Robert W. Baird decreased their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Seventeen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $96.43.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Starbucks by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after acquiring an additional 470,498 shares during the period. Northern Trust Corp grew its position in Starbucks by 1.5% in the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock worth $1,388,924,000 after acquiring an additional 232,031 shares during the period. Norges Bank purchased a new stake in Starbucks in the fourth quarter valued at $1,240,652,000. Fisher Asset Management LLC lifted its stake in shares of Starbucks by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after purchasing an additional 268,030 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Starbucks by 11.8% during the 3rd quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock worth $962,144,000 after purchasing an additional 1,115,051 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

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.