Starbucks Corporation (NASDAQ:SBUX) insider John Culver sold 64,776 shares of Starbucks Corporation stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $53.54, for a total value of $3,468,107.04. Following the completion of the transaction, the insider now directly owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Starbucks Corporation (SBUX) traded down 0.89% during mid-day trading on Tuesday, hitting $53.54. The stock had a trading volume of 10,338,986 shares. The firm has a 50 day moving average of $54.64 and a 200-day moving average of $57.96. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The stock has a market cap of $77.31 billion, a P/E ratio of 27.03 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same period last year, the company earned $0.49 earnings per share. Starbucks Corporation’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts expect that Starbucks Corporation will post $2.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Thursday, August 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. Starbucks Corporation’s dividend payout ratio (DPR) is presently 50.76%.
Several equities research analysts recently commented on the company. Wedbush reiterated a “neutral” rating and issued a $60.00 price objective (down from $65.00) on shares of Starbucks Corporation in a report on Saturday, July 22nd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $67.00 price objective on shares of Starbucks Corporation in a report on Wednesday, August 23rd. Vetr upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 price objective for the company in a report on Thursday, June 8th. BidaskClub upgraded Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Cleveland Research downgraded Starbucks Corporation from a “buy” rating to a “neutral” rating in a report on Wednesday, August 23rd. Twelve investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $64.64.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jacobi Capital Management LLC lifted its position in shares of Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after acquiring an additional 50 shares in the last quarter. Gradient Investments LLC lifted its position in shares of Starbucks Corporation by 2.5% in the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after acquiring an additional 46 shares in the last quarter. Sharkey Howes & Javer lifted its position in shares of Starbucks Corporation by 8.5% in the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after acquiring an additional 150 shares in the last quarter. IHT Wealth Management LLC lifted its position in shares of Starbucks Corporation by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after acquiring an additional 187 shares in the last quarter. Finally, TrimTabs Asset Management LLC purchased a new position in shares of Starbucks Corporation in the first quarter valued at approximately $122,000. Institutional investors and hedge funds own 70.99% of the company’s stock.
Starbucks Corporation 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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