Insider Selling: Starbucks Insider Sells 1,000 Shares of Stock (SBUX)
Starbucks (NASDAQ:SBUX) Insider John Culver sold 1,000 shares of the company’s stock on the open market in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $78.00, for a total value of $78,000.00. Following the sale, the insider now directly owns 95,064 shares of the company’s stock, valued at approximately $7,414,992. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on SBUX shares. 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have given a buy rating to the company. Starbucks currently has a consensus rating of “Buy” and an average price target of $88.67.
Shares of Starbucks (NASDAQ:SBUX) traded up 0.38% on Friday, hitting $76.91. The stock had a trading volume of 4,045,022 shares. Starbucks has a one year low of $67.93 and a one year high of $82.50. The stock’s 50-day moving average is $78.10 and its 200-day moving average is $74.13. The company has a market cap of $57.775 billion and a price-to-earnings ratio of 235.75. Starbucks also saw a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 9,447,419 shares, a decline of 8.6% from the July 15th total of 10,339,291 shares. Based on an average daily volume of 4,582,509 shares, the short-interest ratio is presently 2.1 days. Currently, 1.3% of the shares of the company are sold short.
Starbucks (NASDAQ:SBUX) last released its earnings data on Thursday, July 24th. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis. 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. Investors 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 1.35%. The ex-dividend date of this dividend 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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