Starbucks Co. (NASDAQ:SBUX) CFO Rachel Ruggeri Sells 1,491 Shares

Starbucks Co. (NASDAQ:SBUX) CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, November 15th, Rachel Ruggeri sold 1,452 shares of Starbucks stock. The stock was sold at an average price of $99.07, for a total value of $143,849.64.

Starbucks Price Performance

SBUX stock opened at $102.50 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.60. The firm has a market cap of $116.21 billion, a PE ratio of 30.97, a P/E/G ratio of 2.90 and a beta of 0.97. The firm has a 50 day simple moving average of $97.11 and a 200 day simple moving average of $87.00.

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

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.61 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio is currently 73.72%.

Institutional Trading of Starbucks

A number of hedge funds have recently bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks during the 2nd quarter worth about $25,000. New Millennium Group LLC acquired a new stake in Starbucks in the 2nd quarter valued at about $26,000. Stephens Consulting LLC grew its position in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $27,000. Finally, MFA Wealth Advisors LLC bought a new position in Starbucks during the 2nd quarter worth approximately $31,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SBUX. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Bank of America dropped their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. UBS Group boosted their target price on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, BTIG Research boosted their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.81.

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.