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

Starbucks Co. (NASDAQ:SBUX) CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Starbucks Stock Down 0.1 %

Shares of SBUX opened at $98.26 on Thursday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $104.68. The firm has a market capitalization of $111.35 billion, a PE ratio of 29.69, a P/E/G ratio of 2.85 and a beta of 0.97. The firm has a 50-day moving average price of $97.01 and a 200 day moving average price of $86.70.

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

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.48%. Starbucks’s dividend payout ratio is currently 73.72%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. UBS Group lifted their price target on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada began coverage on Starbucks in a research note on Friday, November 15th. They set an “outperform” rating and a $115.00 target price for the company. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and increased their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Finally, BMO Capital Markets lifted their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.81.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Riverview Trust Co raised its holdings in shares of Starbucks by 3.4% during the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after acquiring an additional 105 shares during the period. Essex Savings Bank lifted its holdings in shares of Starbucks by 1.6% in the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after purchasing an additional 112 shares in the last quarter. Virtue Capital Management LLC boosted its position in shares of Starbucks by 1.7% in the third quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock worth $674,000 after buying an additional 115 shares during the period. DT Investment Partners LLC grew its holdings in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares in the last quarter. Finally, Childress Capital Advisors LLC raised its position in Starbucks by 4.8% during the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after buying an additional 126 shares during the period. Institutional investors and hedge funds 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.