Starbucks Co. (NASDAQ:SBUX – Get Free Report) 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 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.
View Our Latest Stock Report on SBUX
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.
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