Starbucks Corporation (SBUX) Short Interest Up 20.2% in November
Starbucks Corporation (NASDAQ:SBUX) was the target of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 29,059,573 shares, a growth of 20.2% from the November 15th total of 24,180,102 shares. Based on an average daily volume of 7,990,258 shares, the short-interest ratio is currently 3.6 days. Approximately 2.1% of the company’s shares are sold short.
A number of research firms recently weighed in on SBUX. Vetr downgraded Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.86 price objective for the company. in a report on Monday, November 27th. Robert W. Baird decreased their price target on Starbucks from $70.00 to $66.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Zacks Investment Research downgraded Starbucks from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Mizuho reiterated a “buy” rating and set a $75.00 price target on shares of Starbucks in a report on Friday, September 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $67.00 price target on shares of Starbucks in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $63.26.
In related news, SVP Paul Mutty sold 3,000 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the sale, the senior vice president now directly owns 10,438 shares in the company, valued at $594,444.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Howard D. Schultz sold 290,176 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $57.03, for a total value of $16,548,737.28. Following the completion of the sale, the insider now owns 29,872,564 shares of the company’s stock, valued at $1,703,632,324.92. The disclosure for this sale can be found here. Insiders sold 497,808 shares of company stock valued at $28,559,521 over the last 90 days. 3.40% of the stock is currently owned by company insiders.
Shares of Starbucks (NASDAQ:SBUX) opened at $59.27 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. The company has a market capitalization of $83,970.00, a PE ratio of 28.31, a PEG ratio of 1.60 and a beta of 0.76. Starbucks has a 12 month low of $52.58 and a 12 month high of $64.87.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the business posted $0.56 EPS. analysts anticipate that Starbucks will post 2.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 16th were paid a $0.30 dividend. The ex-dividend date was Wednesday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.02%. Starbucks’s dividend payout ratio (DPR) is currently 60.91%.
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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