Traders Sell Starbucks (SBUX) on Strength (SBUX)
Investors sold shares of Starbucks Corporation (NASDAQ:SBUX) on strength during trading on Thursday. $71.57 million flowed into the stock on the tick-up and $108.53 million flowed out of the stock on the tick-down, for a money net flow of $36.96 million out of the stock. Of all stocks tracked, Starbucks had the 26th highest net out-flow for the day. Starbucks traded up $0.21 for the day and closed at $59.70
SBUX has been the subject of several analyst reports. UBS decreased their target price on shares of Starbucks from $67.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Cowen reissued a “buy” rating and issued a $63.00 target price on shares of Starbucks in a research note on Friday, September 1st. Mizuho set a $75.00 target price on shares of Starbucks and gave the company a “buy” rating in a research note on Wednesday, November 1st. Morgan Stanley raised their target price on shares of Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. Finally, Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 target price for the company. in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Starbucks presently has an average rating of “Buy” and a consensus price target of $63.26.
The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $84,329.36, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 1.62 and a beta of 0.75.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 16th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.01%. This is an increase from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio (DPR) is currently 60.91%.
In related news, Director Joshua Cooper Ramo sold 60,000 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $59.43, for a total value of $3,565,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Howard D. Schultz sold 290,176 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $57.03, for a total value of $16,548,737.28. Following the completion of the transaction, the insider now directly owns 29,872,564 shares of the company’s stock, valued at approximately $1,703,632,324.92. The disclosure for this sale can be found here. Insiders have sold 497,808 shares of company stock valued at $28,559,521 in the last three months. Insiders own 3.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Starbucks by 2.1% in the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after acquiring an additional 1,953,003 shares during the last quarter. Capital World Investors grew its position in Starbucks by 2.0% in the second quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock valued at $2,650,696,000 after acquiring an additional 895,432 shares during the last quarter. Northern Trust Corp grew its position in Starbucks by 5.2% in the second quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock valued at $1,250,919,000 after acquiring an additional 1,060,298 shares during the last quarter. Capital International Investors grew its position in Starbucks by 28.3% in the third quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after acquiring an additional 4,696,452 shares during the last quarter. Finally, Magellan Asset Management Ltd grew its position in Starbucks by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after acquiring an additional 18,667,265 shares during the last quarter. 71.07% of the stock is owned by institutional investors and hedge funds.
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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.
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