Starbucks Corporation (NASDAQ:SBUX) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 24,427,034 shares, a growth of 12.8% from the August 15th total of 21,646,310 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average daily volume of 9,072,177 shares, the short-interest ratio is currently 2.7 days.

In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the sale, the director now directly owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 18,000 shares of the stock in a transaction on Friday, August 4th. The stock was acquired at an average cost of $55.30 per share, with a total value of $995,400.00. Following the completion of the purchase, the director now directly owns 18,000 shares of the company’s stock, valued at $995,400. The disclosure for this purchase can be found here. Insiders own 3.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Regent Investment Management LLC boosted its holdings in shares of Starbucks Corporation by 6.8% in the 2nd quarter. Regent Investment Management LLC now owns 4,683 shares of the coffee company’s stock valued at $273,000 after acquiring an additional 300 shares during the last quarter. Cape Cod Five Cents Savings Bank boosted its holdings in shares of Starbucks Corporation by 16.9% in the 2nd quarter. Cape Cod Five Cents Savings Bank now owns 31,902 shares of the coffee company’s stock valued at $1,861,000 after acquiring an additional 4,616 shares during the last quarter. Appropriate Balance Financial Services Inc. boosted its holdings in shares of Starbucks Corporation by 1.6% in the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock valued at $14,396,000 after acquiring an additional 13 shares during the last quarter. Zevin Asset Management LLC boosted its holdings in shares of Starbucks Corporation by 1.0% in the 1st quarter. Zevin Asset Management LLC now owns 61,924 shares of the coffee company’s stock valued at $3,616,000 after acquiring an additional 625 shares during the last quarter. Finally, Sawtooth Solutions LLC boosted its holdings in shares of Starbucks Corporation by 60.1% in the 1st quarter. Sawtooth Solutions LLC now owns 18,346 shares of the coffee company’s stock valued at $1,071,000 after acquiring an additional 6,884 shares during the last quarter. 70.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of Starbucks Corporation (SBUX) opened at 54.67 on Friday. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The company has a 50-day moving average of $54.15 and a 200 day moving average of $57.87. The stock has a market cap of $78.94 billion, a PE ratio of 27.60 and a beta of 0.78.

Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. Starbucks Corporation’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. On average, analysts predict that Starbucks Corporation will post $2.07 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Thursday, August 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is currently 50.76%.

Several analysts have weighed in on SBUX shares. Cowen and Company reissued a “buy” rating and issued a $63.00 price target on shares of Starbucks Corporation in a research note on Friday, September 1st. Zacks Investment Research raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Wedbush raised shares of Starbucks Corporation from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $57.00 to $60.00 in a research note on Friday, August 25th. Vetr raised shares of Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $67.14 price objective for the company in a research note on Thursday, June 22nd. Finally, Mizuho reaffirmed a “buy” rating and set a $75.00 price objective on shares of Starbucks Corporation in a research note on Thursday, July 6th. Thirteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. Starbucks Corporation has a consensus rating of “Buy” and a consensus price target of $64.64.

COPYRIGHT VIOLATION WARNING: This story was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/09/17/short-interest-in-starbucks-corporation-sbux-rises-by-12-8.html.

Starbucks Corporation Company Profile

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

Receive News & Stock Ratings for Starbucks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corporation and related stocks with our FREE daily email newsletter.