Starbucks Co. (NASDAQ:SBUX) Short Interest Update

Starbucks Co. (NASDAQ:SBUX) saw a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 30,790,000 shares, a growth of 22.3% from the October 31st total of 25,170,000 shares. Based on an average trading volume of 8,510,000 shares, the short-interest ratio is presently 3.6 days. Currently, 2.8% of the company’s stock are sold short.

Starbucks Stock Performance

Starbucks stock traded up $0.95 during trading on Friday, reaching $102.46. The company had a trading volume of 3,419,300 shares, compared to its average volume of 7,186,895. The firm’s 50-day simple moving average is $97.63 and its 200 day simple moving average is $88.10. The firm has a market capitalization of $116.17 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 3.00 and a beta of 0.97. Starbucks has a 1-year low of $71.55 and a 1-year high of $103.32.

Starbucks (NASDAQ:SBUX) last released its 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 net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the company earned $1.06 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. Analysts anticipate that Starbucks will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 1.06 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Starbucks

Several large investors have recently made changes to their positions in the company. Riverview Trust Co raised its position in shares of Starbucks by 3.4% in the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after buying an additional 105 shares during the last quarter. Essex Savings Bank raised its holdings in Starbucks by 1.6% in the 3rd quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after acquiring an additional 112 shares during the last quarter. Virtue Capital Management LLC lifted its stake in Starbucks by 1.7% in the 3rd quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock worth $674,000 after purchasing an additional 115 shares in the last quarter. DT Investment Partners LLC boosted its holdings in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the last quarter. Finally, Childress Capital Advisors LLC grew its position in shares of Starbucks by 4.8% in the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after purchasing an additional 126 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SBUX shares. BMO Capital Markets raised their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Barclays reduced their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average price target of $103.77.

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.