Stock Traders Purchase High Volume of Put Options on Starbucks Corporation (SBUX)
Starbucks Corporation (NASDAQ:SBUX) saw unusually large options trading activity on Thursday. Investors acquired 11,653 put options on the company. This represents an increase of 132% compared to the average daily volume of 5,014 put options.
A number of research firms have commented on SBUX. Stifel Nicolaus raised shares of Starbucks Corporation to a “buy” rating in a research report on Saturday, May 13th. UBS AG set a $70.00 target price on shares of Starbucks Corporation and gave the stock a “buy” rating in a research report on Saturday, May 13th. Deutsche Bank AG raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and lifted their target price for the stock from $59.00 to $69.00 in a research report on Monday, May 15th. Vetr downgraded shares of Starbucks Corporation from a “buy” rating to a “hold” rating and set a $65.15 target price for the company. in a research report on Thursday, May 25th. Finally, Mizuho began coverage on shares of Starbucks Corporation in a research report on Thursday, June 8th. They issued a “buy” rating and a $75.00 target price for the company. Twelve analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company. Starbucks Corporation currently has a consensus rating of “Buy” and a consensus price target of $64.64.
Starbucks Corporation (NASDAQ:SBUX) opened at 53.49 on Friday. The company has a market capitalization of $77.23 billion, a P/E ratio of 27.00 and a beta of 0.78. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The company’s 50-day moving average is $54.75 and its 200 day moving average is $57.98.
Starbucks Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. Starbucks Corporation’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 earnings per share. On average, equities analysts anticipate that Starbucks Corporation will post $2.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Thursday, August 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is currently 50.76%.
In other news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was bought at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the acquisition, the director now directly owns 18,000 shares in the company, valued at $995,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Myron E. Ullman III sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total transaction of $606,300.00. Following the completion of the transaction, the director now owns 24,000 shares of the company’s stock, valued at $1,455,120. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in SBUX. Jacobi Capital Management LLC grew its holdings in Starbucks Corporation by 2.7% during the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after acquiring an additional 50 shares in the last quarter. Gradient Investments LLC boosted its holdings in shares of Starbucks Corporation by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after buying an additional 46 shares in the last quarter. Sharkey Howes & Javer boosted its holdings in shares of Starbucks Corporation by 8.5% in the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after buying an additional 150 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in shares of Starbucks Corporation by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after buying an additional 187 shares in the last quarter. Finally, TrimTabs Asset Management LLC acquired a new position in shares of Starbucks Corporation in the 1st quarter valued at $122,000. Hedge funds and other institutional investors own 70.99% of the company’s stock.
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About Starbucks Corporation
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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