Insider Selling: Myron E. Ullman III Unloads 21,962 Shares of Starbucks Stock (SBUX)
Starbucks (NASDAQ:SBUX) Director Myron E. Ullman III sold 21,962 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $78.55, for a total transaction of $1,725,115.10. Following the completion of the transaction, the director now directly owns 7,000 shares in the company, valued at approximately $549,850. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Starbucks (NASDAQ:SBUX) traded down 1.55% during mid-day trading on Thursday, hitting $77.68. 4,073,792 shares of the company’s stock traded hands. Starbucks has a 52-week low of $67.93 and a 52-week high of $82.50. The stock has a 50-day moving average of $77.8 and a 200-day moving average of $73.93. The company has a market cap of $58.477 billion and a price-to-earnings ratio of 242.77.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.66 by $0.01. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter last year, the company posted $0.55 earnings per share. Starbucks’s revenue was up 11.2% compared to the same quarter last year. Analysts expect that Starbucks will post $2.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 22nd. Shareholders of record on Thursday, August 7th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Tuesday, August 5th.
A number of analysts have recently weighed in on SBUX shares. Analysts at Williams Capital raised their price target on shares of Starbucks from $94.00 to $98.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Starbucks in a research note on Monday. They now have a $83.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Starbucks in a research note on Friday, July 25th. They now have a $85.00 price target on the stock, up previously from $77.00. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $88.28.
Starbucks Corporation is a roaster, marketer and retailer of coffee operating in 60 countries. The Company purchases and roasts coffees that it sells, along with handcrafted coffee, tea and other beverages and a variety of fresh food items, through Company-operated stores.
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