Starbucks Corporation (SBUX) Short Interest Update
Starbucks Corporation (NASDAQ:SBUX) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 22,544,302 shares, a decline of 14.5% from the October 13th total of 26,376,065 shares. Based on an average daily volume of 8,987,387 shares, the days-to-cover ratio is presently 2.5 days. Currently, 1.6% of the company’s stock are short sold.
In related news, insider John Culver sold 64,776 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $53.54, for a total value of $3,468,107.04. Following the transaction, the insider now directly owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Javier G. Teruel sold 62,966 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total transaction of $3,627,471.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 150,708 shares of company stock worth $8,322,192. Insiders own 3.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Appropriate Balance Financial Services Inc. increased its position in shares of Starbucks Corporation by 1.6% during the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after acquiring an additional 13 shares during the period. Jacobi Capital Management LLC increased its position in shares of Starbucks Corporation by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after acquiring an additional 50 shares during the period. Gradient Investments LLC increased its position in shares of Starbucks Corporation by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after acquiring an additional 46 shares during the period. Sharkey Howes & Javer increased its position in shares of Starbucks Corporation by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after acquiring an additional 150 shares during the period. Finally, IHT Wealth Management LLC increased its position in shares of Starbucks Corporation by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after acquiring an additional 187 shares during the period. 72.01% of the stock is currently owned by institutional investors.
Several research firms have recently commented on SBUX. Vetr upgraded Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.12 price objective for the company in a research note on Tuesday. Morgan Stanley upped their price objective on Starbucks Corporation from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Credit Suisse Group restated a “buy” rating on shares of Starbucks Corporation in a research note on Monday, November 6th. Deutsche Bank AG reduced their price objective on Starbucks Corporation to $62.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Finally, UBS AG reduced their price objective on Starbucks Corporation from $67.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Twelve equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $63.31.
Shares of Starbucks Corporation (SBUX) opened at $56.93 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. Starbucks Corporation has a 1 year low of $52.58 and a 1 year high of $64.87. The firm has a market cap of $81,780.00, a PE ratio of 27.56, a P/E/G ratio of 1.56 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the prior year, the company posted $0.56 EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. equities research analysts predict that Starbucks Corporation will post 2.31 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 16th will be given a $0.30 dividend. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, November 15th. Starbucks Corporation’s dividend payout ratio is 50.76%.
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.