Clifford Burrows Sells 114,826 Shares of Starbucks Co. (SBUX) Stock
Starbucks Co. (NASDAQ:SBUX) insider Clifford Burrows sold 114,826 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $59.46, for a total transaction of $6,827,553.96. Following the completion of the transaction, the insider now directly owns 363,343 shares of the company’s stock, valued at $21,604,374.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Starbucks Co. (NASDAQ:SBUX) traded down 0.21% during trading on Monday, hitting $61.23. 6,392,097 shares of the company traded hands. The firm has a 50 day moving average of $59.67 and a 200 day moving average of $57.31. Starbucks Co. has a one year low of $50.84 and a one year high of $61.94. The firm has a market cap of $88.67 billion, a P/E ratio of 30.28 and a beta of 0.79. Starbucks also saw unusually large options trading activity on Friday. Traders bought 4,511 call options on the stock. This is an increase of 163% compared to the average daily volume of 1,717 call options.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, April 27th. The coffee company reported $0.45 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.42 billion. Starbucks had a net margin of 13.30% and a return on equity of 51.45%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, analysts expect that Starbucks Co. will post $2.10 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Thursday, May 11th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.63%. The ex-dividend date is Tuesday, May 9th. Starbucks’s dividend payout ratio is 51.28%.
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A number of brokerages have issued reports on SBUX. Deutsche Bank AG raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their target price for the company from $59.00 to $69.00 in a report on Monday, May 15th. Stifel Nicolaus raised shares of Starbucks to a “buy” rating in a report on Saturday, May 13th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 target price on shares of Starbucks in a report on Friday, May 12th. Zacks Investment Research cut shares of Starbucks from a “hold” rating to a “sell” rating in a report on Monday, May 1st. Finally, Stephens reaffirmed an “equal weight” rating and issued a $58.00 target price on shares of Starbucks in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Starbucks currently has a consensus rating of “Buy” and a consensus price target of $64.67.
A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Starbucks by 2,743.4% in the first quarter. BlackRock Inc. now owns 85,255,361 shares of the coffee company’s stock valued at $4,978,059,000 after buying an additional 82,256,964 shares in the last quarter. Magellan Asset Management Ltd increased its stake in Starbucks by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after buying an additional 18,667,265 shares in the last quarter. Norges Bank purchased a new stake in Starbucks during the fourth quarter valued at about $680,375,000. Capital World Investors increased its stake in Starbucks by 30.3% in the third quarter. Capital World Investors now owns 34,697,636 shares of the coffee company’s stock valued at $1,878,530,000 after buying an additional 8,071,610 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Starbucks by 58.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,032,304 shares of the coffee company’s stock valued at $702,567,000 after buying an additional 4,415,861 shares in the last quarter. 68.49% of the stock is owned by institutional investors.
Starbucks Company Profile
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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