Insider Selling: Starbucks Co. (NASDAQ:SBUX) EVP Sells $22,000.00 in Stock

Starbucks Co. (NASDAQ:SBUX) EVP Sara Kelly sold 250 shares of Starbucks stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $88.00, for a total transaction of $22,000.00. Following the transaction, the executive vice president now directly owns 46,441 shares in the company, valued at $4,086,808. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sara Kelly also recently made the following trade(s):

• On Thursday, March 21st, Sara Kelly sold 250 shares of Starbucks stock. The stock was sold at an average price of $92.63, for a total value of $23,157.50.
• On Wednesday, February 21st, Sara Kelly sold 250 shares of Starbucks stock. The stock was sold at an average price of $93.86, for a total transaction of $23,465.00.

Starbucks Stock Performance

SBUX opened at $88.25 on Friday. The company has a fifty day moving average of $90.36 and a two-hundred day moving average of $94.27. The stock has a market capitalization of $99.92 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.48 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. Starbucks’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. On average, equities research analysts forecast that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.58%. Starbucks’s dividend payout ratio (DPR) is 60.96%.

Institutional Investors Weigh In On Starbucks

Institutional investors have recently added to or reduced their stakes in the stock. Conning Inc. lifted its holdings in Starbucks by 23.7% during the first quarter. Conning Inc. now owns 392,014 shares of the coffee company’s stock valued at $35,752,000 after purchasing an additional 75,006 shares in the last quarter. Pinnacle Associates Ltd. raised its position in shares of Starbucks by 1.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 238,642 shares of the coffee company’s stock worth $21,809,000 after purchasing an additional 2,357 shares during the last quarter. Harrington Investments INC lifted its stake in Starbucks by 1.6% in the 1st quarter. Harrington Investments INC now owns 36,878 shares of the coffee company’s stock valued at $3,370,000 after buying an additional 588 shares in the last quarter. Narwhal Capital Management boosted its holdings in Starbucks by 12.6% in the 1st quarter. Narwhal Capital Management now owns 31,596 shares of the coffee company’s stock worth $2,888,000 after buying an additional 3,527 shares during the last quarter. Finally, LifeSteps Financial Inc. purchased a new stake in Starbucks during the 1st quarter worth approximately $96,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Stephens reissued an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Guggenheim decreased their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 19th. JPMorgan Chase & Co. cut their price objective on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, March 19th. TD Cowen reissued a “hold” rating and set a $100.00 target price on shares of Starbucks in a research report on Thursday, April 11th. Finally, Gordon Haskett lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a report on Tuesday, January 16th. Fourteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $106.55.

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.