Traders Buy Shares of Starbucks Corp. (SBUX) on Weakness
Traders bought shares of Starbucks Corp. (NASDAQ:SBUX) on weakness during trading hours on Monday. $97.64 million flowed into the stock on the tick-up and $65.66 million flowed out of the stock on the tick-down, for a money net flow of $31.98 million into the stock. Of all stocks tracked, Starbucks Corp. had the 8th highest net in-flow for the day. Starbucks Corp. traded down ($0.42) for the day and closed at $57.63
A number of brokerages recently issued reports on SBUX. Deutsche Bank AG downgraded Starbucks Corp. from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $70.00 to $64.00 in a research report on Tuesday, April 12th. They noted that the move was a valuation call. Robert W. Baird reiterated a “buy” rating on shares of Starbucks Corp. in a research report on Tuesday, April 19th. Stephens raised their price target on Starbucks Corp. from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, April 22nd. Goldman Sachs Group Inc. restated a “buy” rating and set a $72.00 price target (up previously from $69.00) on shares of Starbucks Corp. in a research report on Friday, April 22nd. Finally, Vetr downgraded Starbucks Corp. from a “strong-buy” rating to a “buy” rating and set a $67.16 price target on the stock. in a research report on Monday, April 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Starbucks Corp. has an average rating of “Buy” and an average target price of $66.69.
The firm’s 50 day moving average price is $56.59 and its 200 day moving average price is $57.46. The company has a market capitalization of $84.52 billion and a price-to-earnings ratio of 32.38.
Starbucks Corp. (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.49. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.34 billion. Equities research analysts predict that Starbucks Corp. will post $1.89 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Thursday, August 4th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, August 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.39%.
In other Starbucks Corp. news, Director William W. Bradley sold 12,654 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $55.34, for a total value of $700,272.36. Following the completion of the sale, the director now directly owns 57,417 shares in the company, valued at $3,177,456.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Culver sold 145,530 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $56.71, for a total transaction of $8,253,006.30. Following the completion of the sale, the insider now owns 334,982 shares of the company’s stock, valued at $18,996,829.22. The disclosure for this sale can be found here.
A number of large investors have recently made changes to their positions in SBUX. Wellington Shields Capital Management LLC increased its stake in shares of Starbucks Corp. by 19.1% in the fourth quarter. Wellington Shields Capital Management LLC now owns 57,769 shares of the coffee company’s stock valued at $3,468,000 after buying an additional 9,255 shares during the period. Bristol Gate Capital Partners Inc. increased its stake in shares of Starbucks Corp. by 4.0% in the fourth quarter. Bristol Gate Capital Partners Inc. now owns 381,970 shares of the coffee company’s stock valued at $22,930,000 after buying an additional 14,830 shares during the period. Vanguard Group Inc. increased its stake in shares of Starbucks Corp. by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 83,679,860 shares of the coffee company’s stock valued at $5,023,302,000 after buying an additional 2,151,586 shares during the period. Todd Asset Management LLC purchased a new stake in shares of Starbucks Corp. during the fourth quarter valued at $10,667,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Starbucks Corp. by 16.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,004,588 shares of the coffee company’s stock valued at $60,305,000 after buying an additional 145,120 shares during the period.
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
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