Insider Selling: John Culver Sells 25,000 Shares of Starbucks Stock (SBUX)
Starbucks (NASDAQ:SBUX) Insider John Culver sold 25,000 shares of the stock on the open market in a transaction that occurred on 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 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 research analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $88.67.
Starbucks (NASDAQ:SBUX) traded up 0.38% on Friday, hitting $76.91. 4,045,022 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 $78.10 and a 200-day moving average of $74.13. The company has a market cap of $57.775 billion and a price-to-earnings ratio of 235.75.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, analysts predict that Starbucks will post $2.68 earnings per share 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 1.35%. 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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