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

Starbucks Co. (NASDAQ:SBUXGet Free Report) 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:SBUXGet Free Report) 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.

Check Out Our Latest Stock Report on SBUX

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

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Starbucks (NASDAQ:SBUX)

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