Starbucks Director James G. Shennan, Jr. Sells 10,982 Shares (SBUX)
Starbucks (NASDAQ:SBUX) Director James G. Shennan, Jr. sold 10,982 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $77.66, for a total transaction of $852,862.12. Following the completion of the sale, the director now directly owns 13,509 shares of the company’s stock, valued at approximately $1,049,109. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Starbucks (NASDAQ:SBUX) traded up 0.48% on Thursday, hitting $77.16. 2,874,895 shares of the company’s stock traded hands. Starbucks has a one year low of $67.93 and a one year high of $82.50. The stock has a 50-day moving average of $77.81 and a 200-day moving average of $74.58. The company has a market cap of $57.963 billion and a P/E ratio of 236.28. Starbucks also saw a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 7,556,135 shares, a decrease of 20.0% from the July 31st total of 9,447,419 shares. Based on an average trading volume of 3,330,428 shares, the days-to-cover ratio is currently 2.3 days. Currently, 1.0% of the company’s shares are sold short.
Starbucks (NASDAQ:SBUX) last issued its quarterly 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. On average, analysts predict that Starbucks will post $2.68 earnings per share for the current fiscal year.
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 given a hold rating and nineteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $88.67.
Starbucks Corporation (NASDAQ:SBUX) is a roaster, marketer and retailer of specialty coffee in the world, operating in 62 countries.
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