Investors Sell Shares of Starbucks (SBUX) on Strength (SBUX)
Investors sold shares of Starbucks Corporation (NASDAQ:SBUX) on strength during trading on Wednesday. $51.33 million flowed into the stock on the tick-up and $103.74 million flowed out of the stock on the tick-down, for a money net flow of $52.41 million out of the stock. Of all companies tracked, Starbucks had the 31st highest net out-flow for the day. Starbucks traded up $0.22 for the day and closed at $59.49
A number of research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Vetr lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.86 price target on the stock. in a research note on Monday, November 27th. UBS set a $64.00 price target on shares of Starbucks and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Morgan Stanley boosted their price target on shares of Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Starbucks in a research note on Monday, November 6th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Starbucks presently has an average rating of “Buy” and an average price target of $63.26.
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 cap of $84,640.00, a PE ratio of 28.54, a price-to-earnings-growth ratio of 1.61 and a beta of 0.76.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the business posted $0.56 earnings per share. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. sell-side analysts expect that Starbucks Corporation will post 2.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Wednesday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio is 60.91%.
In other Starbucks news, Director Craig Weatherup sold 56,666 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $56.73, for a total value of $3,214,662.18. Following the sale, the director now owns 56,666 shares of the company’s stock, valued at $3,214,662.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Howard D. Schultz sold 290,176 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the completion of the sale, the insider now directly owns 29,872,564 shares in the company, valued at approximately $1,703,632,324.92. The disclosure for this sale can be found here. Insiders sold 497,808 shares of company stock worth $28,559,521 in the last ninety days. Insiders own 3.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in SBUX. Appropriate Balance Financial Services Inc. lifted its stake in shares of Starbucks by 1.6% during the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock valued at $14,396,000 after buying an additional 13 shares during the period. Jacobi Capital Management LLC lifted its stake in shares of Starbucks by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after buying an additional 50 shares during the period. IHT Wealth Management LLC lifted its stake in shares of Starbucks by 10.2% during the first 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 during the period. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Starbucks during the third quarter valued at approximately $111,000. Finally, Valley National Advisers Inc. lifted its stake in shares of Starbucks by 2.8% during the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after buying an additional 57 shares during the period. 71.07% of the stock is currently owned by institutional investors.
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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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