Starbucks Insider Sells $1,918,000 in Stock (SBUX)
Starbucks (NASDAQ:SBUX) Insider John Culver sold 25,000 shares of Starbucks stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $76.72, for a total value of $1,918,000.00. Following the completion of the sale, the insider now directly owns 95,064 shares in the company, valued at approximately $7,293,310. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on SBUX. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Starbucks in a research note on Monday, August 4th. They now have a $91.00 price target on the stock, up previously from $84.00. Separately, analysts at Williams Capital raised their price target on shares of Starbucks from $94.00 to $98.00 in a research note on Thursday, July 31st. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Starbucks in a research note on Monday, July 28th. They now have a $83.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $88.67.
Starbucks (NASDAQ:SBUX) traded up 0.38% during mid-day trading on Friday, hitting $76.91. The stock had a trading volume of 4,045,022 shares. 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 $78.13 and a 200-day moving average of $74.11. The company has a market cap of $57.775 billion and a price-to-earnings ratio of 235.75. Starbucks also was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 9,447,419 shares, a drop of 8.6% from the July 15th total of 10,339,291 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average trading volume of 4,582,509 shares, the days-to-cover ratio is presently 2.1 days.
Starbucks (NASDAQ:SBUX) last announced its 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 announced a quarterly dividend, which is scheduled for Friday, August 22nd. Investors of record on Thursday, August 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Tuesday, August 5th.
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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