Rachel Ruggeri Sells 1,452 Shares of Starbucks Co. (NASDAQ:SBUX) Stock

Starbucks Co. (NASDAQ:SBUX) CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Starbucks Stock Up 2.0 %

Shares of NASDAQ:SBUX traded up $1.98 during midday trading on Monday, reaching $100.40. The company’s stock had a trading volume of 7,041,500 shares, compared to its average volume of 11,129,542. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $105.47. The business has a 50 day moving average price of $96.75 and a 200 day moving average price of $86.26. The firm has a market cap of $113.77 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the firm posted $1.06 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. Sell-side analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.61 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is presently 68.88%.

Hedge Funds Weigh In On Starbucks

Several hedge funds and other institutional investors have recently modified their holdings of SBUX. TD Private Client Wealth LLC grew its holdings in Starbucks by 9.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 32,712 shares of the coffee company’s stock worth $3,189,000 after buying an additional 2,733 shares in the last quarter. Virtue Capital Management LLC increased its holdings in shares of Starbucks by 1.7% in the third quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock valued at $674,000 after buying an additional 115 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Starbucks by 59.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 282,651 shares of the coffee company’s stock valued at $27,556,000 after purchasing an additional 105,894 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Starbucks in the third quarter worth approximately $1,112,000. Finally, Financial Avengers Inc. lifted its holdings in shares of Starbucks by 10.0% in the third quarter. Financial Avengers Inc. now owns 41,761 shares of the coffee company’s stock valued at $4,071,000 after purchasing an additional 3,809 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of several research analyst reports. Citigroup upped their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Wedbush decreased their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. BTIG Research upped their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.81.

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.