Joshua Cooper Ramo Sells 60,000 Shares of Starbucks Corporation (SBUX) Stock
Starbucks Corporation (NASDAQ:SBUX) Director Joshua Cooper Ramo sold 60,000 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $59.43, for a total transaction of $3,565,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Starbucks Corporation (NASDAQ SBUX) opened at $58.61 on Friday. The firm has a market cap of $84,144.39, a P/E ratio of 28.57, a PEG ratio of 1.62 and a beta of 0.75. Starbucks Corporation has a one year low of $52.58 and a one year high of $64.87. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 EPS. research analysts anticipate that Starbucks Corporation will post 2.31 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were paid a dividend of $0.30 per share. The ex-dividend date was Wednesday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.05%. Starbucks’s dividend payout ratio is currently 60.91%.
A number of hedge funds have recently added to or reduced their stakes in SBUX. Northstar Wealth Partners LLC acquired a new stake in Starbucks during the first quarter valued at approximately $319,000. Mason Street Advisors LLC raised its holdings in shares of Starbucks by 1.2% during the first quarter. Mason Street Advisors LLC now owns 201,402 shares of the coffee company’s stock valued at $11,760,000 after acquiring an additional 2,310 shares during the period. Hanson McClain Inc. raised its holdings in shares of Starbucks by 21.2% during the first quarter. Hanson McClain Inc. now owns 2,989 shares of the coffee company’s stock valued at $175,000 after acquiring an additional 523 shares during the period. Greenwood Capital Associates LLC raised its holdings in shares of Starbucks by 19.0% during the first quarter. Greenwood Capital Associates LLC now owns 82,478 shares of the coffee company’s stock valued at $4,816,000 after acquiring an additional 13,170 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in shares of Starbucks by 6.6% during the first quarter. Pacer Advisors Inc. now owns 45,252 shares of the coffee company’s stock valued at $2,642,000 after acquiring an additional 2,813 shares during the period. 71.07% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on SBUX. Cowen restated a “buy” rating and issued a $63.00 target price on shares of Starbucks in a research report on Friday, September 1st. Mizuho restated a “buy” rating and issued a $75.00 target price on shares of Starbucks in a research report on Friday, September 29th. Deutsche Bank restated a “buy” rating and issued a $67.00 target price on shares of Starbucks in a research report on Monday, October 9th. Piper Jaffray Companies set a $70.00 target price on shares of Starbucks and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Finally, Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 target price for the company. in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price 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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