Starbucks Corporation (SBUX) Insider Sells $16,548,737.28 in Stock
Starbucks Corporation (NASDAQ:SBUX) insider Howard D. Schultz sold 290,176 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total value of $16,548,737.28. Following the completion of the transaction, the insider now owns 29,872,564 shares in the company, valued at approximately $1,703,632,324.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Starbucks Corporation (SBUX) opened at $56.93 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. Starbucks Corporation has a 52-week low of $52.58 and a 52-week high of $64.87. The stock has a market capitalization of $82,650.00, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 1.56 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the business posted $0.56 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. equities analysts predict that Starbucks Corporation will post 2.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be given a $0.30 dividend. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Wednesday, November 15th. Starbucks Corporation’s dividend payout ratio (DPR) is currently 60.91%.
SBUX has been the topic of several recent research reports. Wedbush reiterated a “neutral” rating and issued a $60.00 price target (down previously 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 target on shares of Starbucks Corporation in a report on Tuesday, July 25th. BidaskClub lowered Starbucks Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Stephens reiterated an “equal weight” rating and issued a $58.00 price target on shares of Starbucks Corporation in a report on Wednesday, July 26th. Finally, Stifel Nicolaus lowered Starbucks Corporation from a “buy” rating to a “hold” rating and cut their price target for the stock from $66.00 to $58.00 in a report on Friday, July 28th. Twelve analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $63.31.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Starbucks Corporation by 12.5% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock valued at $5,388,000 after purchasing an additional 10,250 shares in the last quarter. Geneva Advisors LLC grew its position in shares of Starbucks Corporation 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 purchasing an additional 63,041 shares in the last quarter. Regent Investment Management LLC grew its position in shares of Starbucks Corporation by 6.8% in the second quarter. Regent Investment Management LLC now owns 4,683 shares of the coffee company’s stock valued at $273,000 after purchasing an additional 300 shares in the last quarter. Private Vista LLC grew its position in shares of Starbucks Corporation 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 purchasing an additional 213,303 shares in the last quarter. Finally, Welch Group LLC purchased a new position in shares of Starbucks Corporation in the second quarter valued at $406,000. Institutional investors own 72.01% 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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