Michael Aaron Conway Sells 3,250 Shares of Starbucks Co. (NASDAQ:SBUX) Stock

Starbucks Co. (NASDAQ:SBUX) CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a filing with the SEC, which is available through this link.

Michael Aaron Conway also recently made the following trade(s):

• On Thursday, February 15th, Michael Aaron Conway sold 3,250 shares of Starbucks stock. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $87.15 on Friday. The firm has a fifty day moving average price of $91.14 and a 200 day moving average price of $94.42. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48. The firm has a market cap of $98.67 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 1.39 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the company posted $0.75 EPS. Starbucks’s revenue was up 8.2% compared to the same quarter last year. As a group, research analysts predict that Starbucks Co. will post 4.03 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.62%. Starbucks’s dividend payout ratio is 60.96%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SBUX shares. Piper Sandler lowered their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. Stephens restated an “equal weight” rating and set a $110.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Wells Fargo & Company restated an “overweight” rating and set a $105.00 price objective on shares of Starbucks in a research report on Monday, April 1st. Stifel Nicolaus lowered their price objective on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Finally, BMO Capital Markets lowered their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $107.43.

Hedge Funds Weigh In On Starbucks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vima LLC purchased a new stake in Starbucks during the fourth quarter valued at $26,000. Scarborough Advisors LLC purchased a new stake in Starbucks during the fourth quarter valued at $26,000. Freedom Wealth Alliance LLC purchased a new stake in Starbucks during the fourth quarter valued at $26,000. DSM Capital Partners LLC purchased a new stake in Starbucks during the fourth quarter valued at $27,000. Finally, Riggs Asset Managment Co. Inc. raised its stake in Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

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.