Short Interest in Starbucks Co. (SBUX) Rises By 10.1%
Starbucks Co. (NASDAQ:SBUX) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 33,239,308 shares, an increase of 10.1% from the February 15th total of 30,183,761 shares. Based on an average daily volume of 9,761,938 shares, the short-interest ratio is currently 3.4 days. Approximately 2.3% of the company’s stock are short sold.
Shares of Starbucks (NASDAQ SBUX) opened at $58.46 on Monday. Starbucks has a one year low of $52.58 and a one year high of $64.87. 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 company has a market cap of $82,170.00, a price-to-earnings ratio of 18.68, a PEG ratio of 1.62 and a beta of 0.67.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. research analysts predict that Starbucks will post 2.49 EPS for the current fiscal year.
A number of research firms have recently issued reports on SBUX. Vetr downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $60.26 price objective on the stock. in a research note on Monday. UBS Group set a $64.00 price objective on shares of Starbucks and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. BidaskClub upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Finally, Mizuho downgraded shares of Starbucks from a “buy” rating to a “neutral” rating and raised their target price for the company from $68.00 to $75.00 in a research note on Thursday, February 1st. They noted that the move was a valuation call. Thirteen investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Starbucks has an average rating of “Buy” and a consensus price target of $64.57.
In other news, Director Myron E. Ullman III sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the transaction, the director now directly owns 39,000 shares in the company, valued at $2,126,280. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Clifford Burrows sold 162,826 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the transaction, the insider now owns 331,829 shares in the company, valued at $18,920,889.58. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of SBUX. Janus Henderson Group PLC raised its holdings in shares of Starbucks by 3,076.5% during the second quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock worth $809,917,000 after purchasing an additional 13,452,551 shares during the last quarter. Parnassus Investments CA purchased a new position in shares of Starbucks during the third quarter worth $498,863,000. Magellan Asset Management Ltd raised its holdings in shares of Starbucks by 18.1% during the fourth quarter. Magellan Asset Management Ltd now owns 30,912,781 shares of the coffee company’s stock worth $1,775,321,000 after purchasing an additional 4,744,675 shares during the last quarter. Capital International Investors raised its holdings in shares of Starbucks by 28.3% during the third quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after purchasing an additional 4,696,452 shares during the last quarter. Finally, Harding Loevner LP purchased a new position in shares of Starbucks during the third quarter worth $128,044,000. 72.74% of the stock is owned by hedge funds and other institutional investors.
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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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