Starbucks (NASDAQ:SBUX) Hits New 12-Month High at $112.78
Starbucks Co. (NASDAQ:SBUX)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $112.78 and last traded at $112.73, with a volume of 149505 shares. The stock had previously closed at $111.02.
SBUX has been the subject of a number of recent analyst reports. BTIG Research raised shares of Starbucks from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a research note on Monday, March 22nd. Gordon Haskett raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the stock from $100.00 to $120.00 in a research note on Friday, February 5th. Jefferies Financial Group raised their price objective on shares of Starbucks from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, December 10th. Atlantic Securities initiated coverage on shares of Starbucks in a research note on Tuesday. They issued an “overweight” rating and a $128.00 price objective for the company. Finally, Telsey Advisory Group raised their price objective on shares of Starbucks from $108.00 to $120.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 23rd. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $107.22.
The firm has a market cap of $133.26 billion, a P/E ratio of 147.00, a P/E/G ratio of 2.67 and a beta of 0.82. The business’s fifty day moving average price is $107.10 and its two-hundred day moving average price is $99.66.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Investors of record on Thursday, May 13th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, May 12th. This represents a $1.80 annualized dividend and a yield of 1.59%. Starbucks’s dividend payout ratio (DPR) is presently 153.85%.
In related news, CEO Kevin R. Johnson sold 153,290 shares of Starbucks stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $109.12, for a total value of $16,727,004.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Rachel A. Gonzalez sold 82,894 shares of Starbucks stock in a transaction on Monday, March 29th. The stock was sold at an average price of $109.50, for a total transaction of $9,076,893.00. Following the completion of the transaction, the executive vice president now owns 78,905 shares in the company, valued at approximately $8,640,097.50. The disclosure for this sale can be found here. Insiders sold a total of 406,184 shares of company stock worth $44,685,798 in the last quarter. Insiders own 0.41% of the company’s stock.
Large investors have recently bought and sold shares of the company. Hoover Financial Advisors Inc. bought a new position in shares of Starbucks during the 4th quarter worth about $26,000. Oxler Private Wealth LLC bought a new position in shares of Starbucks during the 4th quarter worth about $32,000. Clark Financial Advisors bought a new position in shares of Starbucks during the 4th quarter worth about $33,000. Phoenix Wealth Advisors bought a new position in shares of Starbucks during the 4th quarter worth about $39,000. Finally, Freedman Financial Associates Inc. bought a new position in shares of Starbucks during the 4th quarter worth about $43,000. Institutional investors own 67.27% of the company’s stock.
About Starbucks (NASDAQ:SBUX)
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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