Investors Sell Starbucks (SBUX) on Strength (SBUX)
Traders sold shares of Starbucks Co. (NASDAQ:SBUX) on strength during trading hours on Friday. $61.72 million flowed into the stock on the tick-up and $107.66 million flowed out of the stock on the tick-down, for a money net flow of $45.94 million out of the stock. Of all stocks tracked, Starbucks had the 0th highest net out-flow for the day. Starbucks traded up $0.99 for the day and closed at $58.46
SBUX has been the subject of several recent analyst reports. Vetr downgraded Starbucks from a “strong-buy” rating to a “buy” rating and set a $63.14 price target for the company. in a report on Monday, November 20th. UBS Group set a $64.00 price target on Starbucks and gave the stock a “buy” rating in a report on Wednesday, November 15th. Piper Jaffray Companies restated a “buy” rating and issued a $70.00 price target on shares of Starbucks in a report on Friday, January 5th. Tigress Financial restated a “buy” rating on shares of Starbucks in a report on Tuesday, January 2nd. Finally, Oppenheimer reiterated a “buy” rating and set a $66.00 price objective on shares of Starbucks in a report on Friday, January 19th. Twelve equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Starbucks has an average rating of “Buy” and a consensus price target of $64.63.
The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The stock has a market cap of $82,170.00, a PE ratio of 18.68, a P/E/G ratio of 1.62 and a beta of 0.67.
The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Thursday, February 8th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.20 annualized dividend and a yield of 2.05%. Starbucks’s dividend payout ratio (DPR) is presently 38.34%.
In other news, Director Myron E. Ullman III sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.52, for a total value of $1,363,000.00. Following the completion of the sale, the director now directly owns 39,000 shares of the company’s stock, valued at $2,126,280. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Clifford Burrows sold 162,826 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total value of $9,284,338.52. Following the completion of the sale, the insider now directly owns 331,829 shares of the company’s stock, valued at $18,920,889.58. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Taylor Hoffman Wealth Management acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $107,000. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Starbucks during the third quarter worth approximately $111,000. Prime Capital Investment Advisors LLC bought a new position in shares of Starbucks during the fourth quarter worth approximately $113,000. Jacobi Capital Management LLC increased its stake in shares of Starbucks by 6.9% during the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after purchasing an additional 129 shares during the period. Finally, Gradient Investments LLC bought a new position in shares of Starbucks during the fourth quarter worth approximately $117,000. 72.74% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece of content on another website, it was copied illegally and reposted in violation of US and international trademark and copyright legislation. The original version of this piece of content can be read at https://www.thecerbatgem.com/2018/03/11/investors-sell-starbucks-sbux-on-strength-sbux-4.html.
Starbucks 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 & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.