Traders Sell Starbucks Corporation (SBUX) on Strength (SBUX)
Investors sold shares of Starbucks Corporation (NASDAQ:SBUX) on strength during trading on Friday. $53.35 million flowed into the stock on the tick-up and $220.80 million flowed out of the stock on the tick-down, for a money net flow of $167.45 million out of the stock. Of all stocks tracked, Starbucks Corporation had the 3rd highest net out-flow for the day. Starbucks Corporation traded up $0.02 for the day and closed at $53.49
SBUX has been the topic of several analyst reports. Sanford C. Bernstein restated a “buy” rating and set a $67.00 price target on shares of Starbucks Corporation in a research report on Monday, June 12th. Cowen and Company reaffirmed an “outperform” rating and set a $66.00 price objective on shares of Starbucks Corporation in a report on Friday, July 21st. UBS AG set a $70.00 price objective on shares of Starbucks Corporation and gave the company a “buy” rating in a report on Wednesday, June 28th. BTIG Research reaffirmed a “buy” rating and set a $64.00 price objective on shares of Starbucks Corporation in a report on Sunday, July 30th. Finally, Zacks Investment Research raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. Twelve investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the stock. Starbucks Corporation presently has an average rating of “Buy” and a consensus target price of $64.64.
The firm has a market capitalization of $77.23 billion, a PE ratio of 27.00 and a beta of 0.78. The firm’s 50-day moving average price is $54.88 and its 200 day moving average price is $58.02. Starbucks Corporation also was the recipient of unusually large options trading activity on Thursday. Traders purchased 11,653 put options on the company. This is an increase of approximately 132% compared to the typical volume of 5,014 put options.
Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS. On average, equities analysts expect that Starbucks Corporation will post $2.07 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Thursday, August 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is presently 50.76%.
In other news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the stock in a transaction on Friday, August 4th. The stock was bought at an average price of $55.30 per share, with a total value of $995,400.00. Following the completion of the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at $995,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Myron E. Ullman III sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total transaction of $606,300.00. Following the completion of the sale, the director now directly owns 24,000 shares of the company’s stock, valued at approximately $1,455,120. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Appropriate Balance Financial Services Inc. grew its position in Starbucks Corporation by 1.6% in the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock valued at $14,396,000 after acquiring an additional 13 shares in the last quarter. Union Bankshares Corp grew its position in Starbucks Corporation by 0.4% in the second quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock valued at $204,000 after acquiring an additional 14 shares in the last quarter. Ken Stern & Associates Inc. grew its position in Starbucks Corporation by 0.4% in the second quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock valued at $330,000 after acquiring an additional 23 shares in the last quarter. Vaughan David Investments Inc. IL grew its position in Starbucks Corporation by 0.6% in the first quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock valued at $271,000 after acquiring an additional 26 shares in the last quarter. Finally, CWM LLC grew its position in Starbucks Corporation by 0.6% in the second quarter. CWM LLC now owns 5,279 shares of the coffee company’s stock valued at $308,000 after acquiring an additional 30 shares in the last quarter. 70.99% of the stock is owned by institutional investors.
About Starbucks Corporation
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.