Starbucks Corp. (SBUX) Short Interest Up 21.7% in September
Starbucks Corp. (NASDAQ:SBUX) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 16,417,375 shares, an increase of 21.7% from the September 15th total of 13,489,166 shares. Based on an average daily volume of 9,272,939 shares, the days-to-cover ratio is presently 1.8 days. Approximately 1.2% of the shares of the stock are short sold.
In other news, Director Myron E. Ullman III sold 12,654 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total transaction of $742,789.80. Following the completion of the sale, the director now owns 26,654 shares in the company, valued at $1,564,589.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.38% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in SBUX. Orrstown Financial Services Inc. increased its position in Starbucks Corp. by 4.2% in the third quarter. Orrstown Financial Services Inc. now owns 15,246 shares of the coffee company’s stock worth $825,000 after buying an additional 611 shares during the period. Prospera Financial Services Inc increased its position in Starbucks Corp. by 34.1% in the third quarter. Prospera Financial Services Inc now owns 13,172 shares of the coffee company’s stock worth $713,000 after buying an additional 3,353 shares during the period. Capstone Asset Management Co. increased its position in Starbucks Corp. by 11.4% in the third quarter. Capstone Asset Management Co. now owns 281,998 shares of the coffee company’s stock worth $15,267,000 after buying an additional 28,790 shares during the period. Atria Investments LLC increased its position in Starbucks Corp. by 10.2% in the third quarter. Atria Investments LLC now owns 21,341 shares of the coffee company’s stock worth $1,155,000 after buying an additional 1,969 shares during the period. Finally, Vista Capital Partners Inc. increased its position in Starbucks Corp. by 2.6% in the third quarter. Vista Capital Partners Inc. now owns 21,057 shares of the coffee company’s stock worth $1,140,000 after buying an additional 533 shares during the period. Institutional investors and hedge funds own 68.13% of the company’s stock.
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Starbucks Corp. (NASDAQ:SBUX) opened at 53.16 on Thursday. The stock’s 50 day moving average price is $54.62 and its 200-day moving average price is $56.31. Starbucks Corp. has a 52 week low of $52.63 and a 52 week high of $64.00. The company has a market cap of $77.96 billion, a price-to-earnings ratio of 29.87 and a beta of 0.83.
Starbucks Corp. (NASDAQ:SBUX) last issued its earnings results on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. The business earned $5.20 billion during the quarter, compared to analyst estimates of $5.34 billion. On average, equities research analysts forecast that Starbucks Corp. will post $1.89 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on SBUX. Zacks Investment Research downgraded Starbucks Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. Deutsche Bank AG set a $64.00 target price on Starbucks Corp. and gave the stock a “hold” rating in a research report on Sunday, July 24th. Robert W. Baird restated an “outperform” rating on shares of Starbucks Corp. in a research report on Tuesday, June 28th. Nomura restated a “buy” rating on shares of Starbucks Corp. in a research report on Tuesday, July 12th. Finally, Jefferies Group restated an “in-line” rating and set a $65.00 target price (down previously from $70.00) on shares of Starbucks Corp. in a research report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Starbucks Corp. presently has a consensus rating of “Buy” and an average price target of $66.54.
Starbucks Corp. Company Profile
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
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