Investors Sell Starbucks (SBUX) on Strength Following Insider Selling
Investors sold shares of Starbucks Co. (NASDAQ:SBUX) on strength during trading hours on Monday after an insider sold shares in the company. $74.15 million flowed into the stock on the tick-up and $161.05 million flowed out of the stock on the tick-down, for a money net flow of $86.90 million out of the stock. Of all equities tracked, Starbucks had the 26th highest net out-flow for the day. Starbucks traded up $0.80 for the day and closed at $55.38Specifically, Director Myron E. Ullman III sold 25,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the transaction, the director now directly owns 39,000 shares of the company’s stock, valued at $2,126,280. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joshua Cooper Ramo sold 60,000 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $59.43, for a total transaction of $3,565,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 622,668 shares of company stock worth $35,579,388. Corporate insiders own 3.48% of the company’s stock.
A number of research firms have recently commented on SBUX. Credit Suisse Group reduced their target price on shares of Starbucks from $56.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. Goldman Sachs Group cut shares of Starbucks from a “conviction-buy” rating to a “buy” rating and cut their price target for the company from $73.00 to $68.00 in a report on Friday, January 26th. BTIG Research reaffirmed a “buy” rating and issued a $64.00 price target on shares of Starbucks in a report on Friday, January 26th. OTR Global raised shares of Starbucks to a “positive” rating in a report on Thursday, October 26th. Finally, BMO Capital Markets cut their price target on shares of Starbucks from $56.00 to $52.00 and set a “market perform” rating on the stock in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Starbucks currently has an average rating of “Buy” and a consensus price target of $64.63.
The stock has a market cap of $78,790.00, a PE ratio of 18.28, a P/E/G ratio of 1.51 and a beta of 0.70. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 0.81.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, February 7th. This represents a $1.20 annualized dividend and a dividend yield of 2.17%. Starbucks’s dividend payout ratio is currently 39.60%.
Several institutional investors have recently added to or reduced their stakes in SBUX. Advisors Asset Management Inc. lifted its holdings in Starbucks by 3.4% in the second quarter. Advisors Asset Management Inc. now owns 260,306 shares of the coffee company’s stock worth $15,178,000 after purchasing an additional 8,656 shares during the period. Pinnacle Financial Partners Inc. lifted its holdings in Starbucks by 3.7% in the second quarter. Pinnacle Financial Partners Inc. now owns 10,488 shares of the coffee company’s stock worth $611,000 after purchasing an additional 379 shares during the period. Rational Advisors LLC acquired a new stake in Starbucks in the second quarter worth about $697,000. Tirschwell & Loewy Inc. lifted its holdings in Starbucks by 12.4% in the second quarter. Tirschwell & Loewy Inc. now owns 237,850 shares of the coffee company’s stock worth $13,869,000 after purchasing an additional 26,245 shares during the period. Finally, Trillium Asset Management LLC lifted its holdings in Starbucks by 23.3% in the second quarter. Trillium Asset Management LLC now owns 327,516 shares of the coffee company’s stock worth $19,097,000 after purchasing an additional 61,864 shares during the period. Institutional investors and hedge funds own 71.92% of the company’s stock.
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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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