Starbucks Co. (NASDAQ:SBUX) CFO Sells $148,414.14 in Stock

Starbucks Co. (NASDAQ:SBUX) CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Rachel Ruggeri also recently made the following trade(s):

• On Friday, November 15th, Rachel Ruggeri sold 1,452 shares of Starbucks stock. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64.

Starbucks Stock Performance

NASDAQ SBUX traded up $2.44 on Friday, hitting $102.50. 6,555,732 shares of the stock traded hands, compared to its average volume of 11,065,695. The business’s fifty day moving average is $97.03 and its two-hundred day moving average is $86.79. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.60. The firm has a market capitalization of $116.15 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS 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 analyst estimates of $9.60 billion. During the same period last year, the company earned $1.06 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts expect that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.38%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Starbucks by 1.0% in the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after acquiring an additional 437,218 shares in the last quarter. Geode Capital Management LLC raised its stake in Starbucks by 1.4% in the third quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after purchasing an additional 333,004 shares in the last quarter. FMR LLC lifted its position in Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the last quarter. Wellington Management Group LLP grew its stake in Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after buying an additional 7,598,146 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Starbucks by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after buying an additional 327,734 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SBUX. JPMorgan Chase & Co. lifted their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their target price for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Finally, TD Cowen restated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. Three 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $102.81.

About Starbucks

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.