Starbucks Co. (NASDAQ:SBUX) EVP Vivek C. Varma sold 50,470 shares of the company’s stock in a transaction on Friday, February 8th. The stock was sold at an average price of $69.39, for a total transaction of $3,502,113.30. Following the sale, the executive vice president now directly owns 118,110 shares of the company’s stock, valued at $8,195,652.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Starbucks stock opened at $70.51 on Thursday. The company has a market capitalization of $86.74 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 2.00 and a beta of 0.48. Starbucks Co. has a 1 year low of $47.37 and a 1 year high of $70.60. The company has a current ratio of 1.41, a quick ratio of 1.16 and a debt-to-equity ratio of 7.73.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, January 24th. The coffee company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.10. The business had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.49 billion. Starbucks had a net margin of 11.98% and a return on equity of 193.00%. Starbucks’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 earnings per share. Sell-side analysts predict that Starbucks Co. will post 2.72 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Investors of record on Thursday, February 7th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, February 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.04%. Starbucks’s payout ratio is presently 59.50%.
Several brokerages recently commented on SBUX. BidaskClub downgraded shares of Starbucks from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 4th. Zacks Investment Research upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Monday, January 28th. Bank of America set a $75.00 price target on shares of Starbucks and gave the stock a “buy” rating in a report on Friday, January 25th. CIBC raised their price objective on Starbucks from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, January 25th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $72.00 target price (up previously from $70.00) on shares of Starbucks in a report on Friday, January 25th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $67.01.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of Starbucks by 6.8% during the 3rd quarter. BlackRock Inc. now owns 90,368,884 shares of the coffee company’s stock valued at $5,136,569,000 after purchasing an additional 5,714,419 shares during the period. Morgan Stanley grew its holdings in Starbucks by 4.8% during the third quarter. Morgan Stanley now owns 49,371,647 shares of the coffee company’s stock worth $2,806,283,000 after acquiring an additional 2,254,701 shares during the period. Magellan Asset Management Ltd boosted its stake in shares of Starbucks by 17.5% in the third quarter. Magellan Asset Management Ltd now owns 38,067,340 shares of the coffee company’s stock worth $2,163,748,000 after acquiring an additional 5,675,224 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Starbucks by 5,590.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,679,558 shares of the coffee company’s stock valued at $368,000 after purchasing an additional 23,263,399 shares during the period. Finally, Polen Capital Management LLC grew its stake in Starbucks by 46.8% during the 3rd quarter. Polen Capital Management LLC now owns 18,035,326 shares of the coffee company’s stock worth $1,025,128,000 after purchasing an additional 5,748,941 shares in the last quarter. 77.28% of the stock is currently owned by institutional investors and hedge funds.
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Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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