Starbucks Co. (NASDAQ:SBUX) CEO Sells $299,916.40 in Stock

Starbucks Co. (NASDAQ:SBUX) CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Rachel Ruggeri also recently made the following trade(s):

• On Wednesday, May 22nd, Rachel Ruggeri sold 3,750 shares of Starbucks stock. The stock was sold at an average price of $80.00, for a total value of $300,000.00.

Starbucks Stock Performance

Shares of SBUX stock traded up $0.98 during trading on Thursday, hitting $94.88. The company had a trading volume of 21,070,244 shares, compared to its average volume of 12,034,914. The firm has a market capitalization of $107.52 billion, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 1.80 and a beta of 0.94. The stock’s 50-day moving average price is $77.69 and its 200 day moving average price is $83.91. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.00 earnings per share. On average, research analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is presently 62.81%.

Wall Street Analyst Weigh In

SBUX has been the topic of several recent research reports. TD Cowen upgraded Starbucks from a “hold” rating to a “buy” rating and raised their price target for the stock from $81.00 to $105.00 in a research report on Tuesday. Guggenheim reduced their target price on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $110.00 in a report on Wednesday. Wedbush reiterated a “neutral” rating and set a $80.00 target price on shares of Starbucks in a report on Tuesday. Finally, BMO Capital Markets cut their price target on Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Twelve analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.79.

Institutional Investors Weigh In On Starbucks

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Scarborough Advisors LLC bought a new stake in Starbucks during the fourth quarter worth $26,000. Vima LLC acquired a new position in shares of Starbucks during the fourth quarter worth $26,000. DSM Capital Partners LLC acquired a new position in shares of Starbucks during the fourth quarter worth $27,000. Fairman Group LLC acquired a new position in shares of Starbucks during the fourth quarter worth $30,000. Finally, Cypress Capital Management LLC WY increased its holdings in shares of Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after buying an additional 185 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.