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

Starbucks Co. (NASDAQ:SBUX) CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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 Price Performance

Shares of SBUX opened at $102.50 on Monday. The company’s 50-day moving average is $97.11 and its 200-day moving average is $87.19. The firm has a market capitalization of $116.21 billion, a PE ratio of 30.97, a PEG ratio of 3.00 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.60.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 EPS. Analysts predict that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.38%. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SBUX. JPMorgan Chase & Co. boosted their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. BTIG Research increased their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $102.81.

Institutional Investors Weigh In On Starbucks

Several institutional investors have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks in the 2nd quarter valued at $25,000. New Millennium Group LLC bought a new position in shares of Starbucks in the second quarter worth $26,000. Stephens Consulting LLC increased its position in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new position in Starbucks in the second quarter valued at about $27,000. Finally, MFA Wealth Advisors LLC bought a new stake in Starbucks during the second quarter worth about $31,000. 72.29% of the stock is currently owned by institutional investors.

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.