Starbucks Co. (SBUX) Sees Large Decline in Short Interest

Starbucks Co. (NASDAQ:SBUX) was the recipient of a large decline in short interest in January. As of January 31st, there was short interest totalling 26,697,741 shares, a decline of 18.4% from the January 12th total of 32,702,722 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average trading volume of 15,267,369 shares, the short-interest ratio is presently 1.7 days.

In other news, insider Clifford Burrows sold 162,826 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total value of $9,284,338.52. Following the completion of the transaction, the insider now directly owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Howard D. Schultz sold 290,176 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total value of $16,548,737.28. Following the completion of the transaction, the insider now directly 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. Over the last three months, insiders sold 597,668 shares of company stock valued at $34,216,388. Corporate insiders own 3.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Ken Stern & Associates Inc. boosted its position in Starbucks by 0.4% during the second quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock worth $330,000 after purchasing an additional 23 shares in the last quarter. Spectrum Management Group Inc. boosted its position in Starbucks by 0.3% during the second quarter. Spectrum Management Group Inc. now owns 10,630 shares of the coffee company’s stock worth $620,000 after purchasing an additional 30 shares in the last quarter. Risk Paradigm Group LLC boosted its position in Starbucks by 0.7% during the second quarter. Risk Paradigm Group LLC now owns 7,470 shares of the coffee company’s stock worth $436,000 after purchasing an additional 50 shares in the last quarter. Valley National Advisers Inc. boosted its position in Starbucks by 2.8% during the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after purchasing an additional 57 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in Starbucks by 0.8% during the second quarter. GHP Investment Advisors Inc. now owns 7,657 shares of the coffee company’s stock worth $446,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 71.87% of the company’s stock.

Shares of Starbucks (NASDAQ SBUX) opened at $54.58 on Friday. Starbucks has a one year low of $52.58 and a one year high of $64.87. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $77,660.00, a PE ratio of 18.01, a PEG ratio of 1.51 and a beta of 0.70.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. research analysts expect that Starbucks will post 2.49 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.20%. Starbucks’s payout ratio is 39.60%.

SBUX has been the subject of several recent research reports. OTR Global raised Starbucks to a “positive” rating in a research report on Thursday, October 26th. Morgan Stanley upped their target price on Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, November 10th. Vetr lowered Starbucks from a “buy” rating to a “hold” rating and set a $61.72 target price on the stock. in a research report on Monday, January 8th. Tigress Financial assumed coverage on Starbucks in a research report on Wednesday, December 27th. They set a “buy” rating on the stock. Finally, Zacks Investment Research lowered Starbucks from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Starbucks presently has an average rating of “Buy” and a consensus price target of $64.32.

ILLEGAL ACTIVITY WARNING: “Starbucks Co. (SBUX) Sees Large Decline in Short Interest” was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another website, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/10/starbucks-co-sbux-sees-large-decline-in-short-interest.html.

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.

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply