Starbucks Corp. (SBUX) Short Interest Up 21.7% in September
Starbucks Corp. (NASDAQ:SBUX) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 16,417,375 shares, an increase of 21.7% from the September 15th total of 13,489,166 shares. Based on an average trading volume of 9,272,939 shares, the days-to-cover ratio is presently 1.8 days. Approximately 1.2% of the company’s stock are sold short.
Starbucks Corp. (NASDAQ:SBUX) opened at 53.16 on Thursday. The company has a 50 day moving average price of $54.62 and a 200-day moving average price of $56.31. The firm has a market cap of $77.96 billion, a price-to-earnings ratio of 29.87 and a beta of 0.83. Starbucks Corp. has a 52-week low of $52.63 and a 52-week high of $64.00.
Starbucks Corp. (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. The firm earned $5.20 billion during the quarter, compared to the consensus estimate of $5.34 billion. Equities research analysts anticipate that Starbucks Corp. will post $1.89 EPS for the current year.
SBUX has been the subject of several research analyst reports. Robert W. Baird reiterated an “outperform” rating on shares of Starbucks Corp. in a research note on Thursday, September 8th. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $69.00 target price on shares of Starbucks Corp. in a research note on Friday, September 23rd. Zacks Investment Research cut Starbucks Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Wedbush reduced their target price on Starbucks Corp. from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, September 28th. Finally, BTIG Research set a $64.00 target price on Starbucks Corp. and gave the company a “buy” rating in a research note on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average 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 that occurred on Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total value of $742,789.80. Following the completion of the transaction, the director now owns 26,654 shares in the company, valued at approximately $1,564,589.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.38% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Mckinley Capital Management LLC Delaware increased its position in shares of Starbucks Corp. by 76.4% in the first quarter. Mckinley Capital Management LLC Delaware now owns 201,422 shares of the coffee company’s stock valued at $12,025,000 after buying an additional 87,228 shares during the last quarter. Algert Global LLC increased its position in shares of Starbucks Corp. by 4.1% in the first quarter. Algert Global LLC now owns 27,324 shares of the coffee company’s stock valued at $1,631,000 after buying an additional 1,084 shares during the last quarter. Wrapmanager Inc. acquired a new position in shares of Starbucks Corp. during the first quarter valued at about $226,000. Allegis Investment Advisors LLC increased its position in shares of Starbucks Corp. by 23.8% in the first quarter. Allegis Investment Advisors LLC now owns 18,901 shares of the coffee company’s stock valued at $1,128,000 after buying an additional 3,634 shares during the last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA increased its position in shares of Starbucks Corp. by 0.4% in the first quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 103,660 shares of the coffee company’s stock valued at $5,829,000 after buying an additional 460 shares during the last quarter. Hedge funds and other institutional investors own 68.13% of the company’s stock.
Starbucks Corp. Company Profile
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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