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

Starbucks Co. (NASDAQ:SBUX) CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Starbucks Stock Performance

Starbucks stock opened at $100.40 on Tuesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $105.47. The firm’s 50-day moving average is $96.91 and its 200-day moving average is $86.44. The company has a market cap of $113.77 billion, a P/E ratio of 30.33, a PEG ratio of 2.85 and a beta of 0.97.

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

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.43%. This is a boost 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 presently 68.88%.

Hedge Funds Weigh In On Starbucks

Several institutional investors have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the 2nd quarter valued at about $25,000. New Millennium Group LLC acquired a new position in shares of Starbucks during the second quarter worth approximately $26,000. Stephens Consulting LLC grew its holdings in Starbucks by 498.2% in 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 in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Starbucks in the 2nd quarter valued at approximately $27,000. Finally, MFA Wealth Advisors LLC bought a new stake in Starbucks during the 2nd quarter valued at $31,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SBUX. JPMorgan Chase & Co. boosted their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Royal Bank of Canada began coverage on Starbucks in a report on Friday. They issued an “outperform” rating and a $115.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Finally, Redburn Atlantic restated a “sell” rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Starbucks currently has a consensus 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.