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

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

Starbucks Stock Up 2.0 %

Starbucks stock traded up $1.98 during trading hours on Monday, hitting $100.40. The stock had a trading volume of 7,041,500 shares, compared to its average volume of 11,129,542. The stock has a market cap of $113.77 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 2.85 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $105.47. The business’s 50 day simple moving average is $96.75 and its 200-day simple moving average is $86.26.

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

Starbucks Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Morgan Stanley upped their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Bank of America dropped their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. TD Cowen restated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Finally, UBS Group increased their price target on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the 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.

Hedge Funds Weigh In On Starbucks

A number of hedge funds have recently made changes to their positions in SBUX. Wellington Management Group LLP raised its position in shares of Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. FMR LLC increased its holdings in Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares in the last quarter. Marshall Wace LLP grew its position in shares of Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after buying an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. bought a new stake in shares of Starbucks in the 2nd quarter valued at $243,910,000. Finally, Capital World Investors acquired a new position in shares of Starbucks during the 1st quarter valued at $257,721,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Company Profile

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.