Starbucks Corp. (SBUX) Short Interest Down 8.0% in September
Starbucks Corp. (NASDAQ:SBUX) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 13,489,166 shares, a decrease of 8.0% from the August 31st total of 14,656,494 shares. Based on an average trading volume of 9,074,473 shares, the short-interest ratio is presently 1.5 days. Approximately 0.9% of the company’s shares are short sold.
Starbucks Corp. (NASDAQ:SBUX) opened at 54.14 on Friday. Starbucks Corp. has a 52 week low of $52.63 and a 52 week high of $64.00. The stock has a market capitalization of $79.40 billion, a P/E ratio of 30.42 and a beta of 0.80. The firm’s 50-day moving average is $55.13 and its 200-day moving average is $56.64.
Starbucks Corp. (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.49. The company earned $5.20 billion during the quarter, compared to the consensus estimate of $5.34 billion. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%. On average, equities research analysts predict that Starbucks Corp. will post $1.89 EPS for the current fiscal year.
A number of brokerages have commented on SBUX. Vetr upgraded shares of Starbucks Corp. from a “buy” rating to a “strong-buy” rating and set a $61.76 target price on the stock in a research note on Monday, August 22nd. BTIG Research set a $64.00 target price on shares of Starbucks Corp. and gave the stock a “buy” rating in a research note on Monday, September 12th. Morgan Stanley restated an “overweight” rating on shares of Starbucks Corp. in a research note on Wednesday, June 29th. Piper Jaffray Cos. set a $72.00 target price on shares of Starbucks Corp. and gave the stock a “buy” rating in a research note on Tuesday, September 20th. Finally, Nomura reaffirmed a “buy” rating and issued a $70.00 price target on shares of Starbucks Corp. in a research report on Monday, July 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Starbucks Corp. currently has an average rating of “Buy” and a consensus price target of $66.54.
In other Starbucks Corp. news, Director Myron E. Ullman III sold 12,654 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $58.70, for a total value of $742,789.80. Following the transaction, the director now directly owns 26,654 shares in the company, valued at approximately $1,564,589.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.38% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Farmers National Bank bought a new position in Starbucks Corp. during the second quarter worth $101,000. Cascade Investment Advisors Inc. bought a new position in Starbucks Corp. during the second quarter worth $107,000. Valley National Advisers Inc. boosted its position in Starbucks Corp. by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,062 shares of the coffee company’s stock worth $118,000 after buying an additional 6 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Starbucks Corp. during the second quarter worth $123,000. Finally, Proficio Capital Partners LLC boosted its position in Starbucks Corp. by 5.2% in the second quarter. Proficio Capital Partners LLC now owns 2,205 shares of the coffee company’s stock worth $128,000 after buying an additional 109 shares during the period. Institutional investors own 68.13% of the company’s stock.
About Starbucks Corp.
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
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