Starbucks Co. (SBUX) Short Interest Up 20.2% in November
Starbucks Co. (NASDAQ:SBUX) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 29,059,573 shares, an increase of 20.2% from the November 15th total of 24,180,102 shares. Approximately 2.1% of the company’s stock are short sold. Based on an average daily volume of 7,990,258 shares, the short-interest ratio is currently 3.6 days.
Starbucks (NASDAQ SBUX) opened at $58.29 on Monday. The company has a market capitalization of $82,935.02, a price-to-earnings ratio of 28.16, a P/E/G ratio of 1.59 and a beta of 0.75. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. Starbucks has a 52 week low of $52.58 and a 52 week high of $64.87.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. The firm 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 was down .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.56 EPS. analysts anticipate that Starbucks will post 2.31 earnings per share for the current year.
In other Starbucks news, Director Craig Weatherup sold 56,666 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $56.73, for a total value of $3,214,662.18. Following the transaction, the director now directly owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Paul Mutty sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the transaction, the senior vice president now directly owns 10,438 shares in the company, valued at $594,444.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 497,808 shares of company stock worth $28,559,521. 3.40% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Starbucks by 12.5% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock worth $5,388,000 after purchasing an additional 10,250 shares in the last quarter. Geneva Advisors LLC lifted its holdings in shares of Starbucks by 2.3% in the second quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock valued at $160,390,000 after buying an additional 63,041 shares during the period. Private Vista LLC lifted its holdings in shares of Starbucks by 3,334.9% in the second quarter. Private Vista LLC now owns 219,699 shares of the coffee company’s stock valued at $160,000 after buying an additional 213,303 shares during the period. Welch Group LLC acquired a new stake in shares of Starbucks in the second quarter valued at $406,000. Finally, TrimTabs Asset Management LLC lifted its holdings in shares of Starbucks by 104.9% in the second quarter. TrimTabs Asset Management LLC now owns 4,296 shares of the coffee company’s stock valued at $250,000 after buying an additional 2,199 shares during the period. 71.07% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on SBUX shares. UBS dropped their price target on Starbucks from $67.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Cowen reissued a “buy” rating and set a $63.00 price target on shares of Starbucks in a research report on Friday, September 1st. Mizuho set a $75.00 price target on Starbucks and gave the company a “buy” rating in a research report on Wednesday, November 1st. Morgan Stanley upped their price target on Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, November 10th. Finally, Vetr lowered Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 price target on the stock. in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Starbucks has a consensus rating of “Buy” and an average price target of $63.26.
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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.
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