Short Interest in Starbucks Co. (SBUX) Declines By 10.5%
Starbucks Co. (NASDAQ:SBUX) was the recipient of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 25,978,849 shares, a decrease of 10.5% from the February 15th total of 29,030,886 shares. Based on an average daily trading volume, of 12,215,357 shares, the days-to-cover ratio is presently 2.1 days. Currently, 2.2% of the company’s shares are short sold.
SBUX stock opened at $70.74 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.41 and a debt-to-equity ratio of 7.73. Starbucks has a 1 year low of $47.37 and a 1 year high of $72.18. The stock has a market capitalization of $87.11 billion, a PE ratio of 29.23, a P/E/G ratio of 2.01 and a beta of 0.50.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, January 24th. The coffee company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. Starbucks had a return on equity of 193.00% and a net margin of 11.98%. The business had revenue of $6.63 billion during the quarter, compared to analyst estimates of $6.49 billion. During the same quarter last year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. Equities analysts predict that Starbucks will post 2.72 earnings per share for the current year.
In related news, EVP Vivek C. Varma sold 73,242 shares of the stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $68.36, for a total transaction of $5,006,823.12. Following the transaction, the executive vice president now directly owns 140,882 shares in the company, valued at $9,630,693.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vivek C. Varma sold 70,364 shares of the stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $70.05, for a total value of $4,928,998.20. Following the transaction, the executive vice president now owns 138,004 shares in the company, valued at $9,667,180.20. The disclosure for this sale can be found here. Insiders have sold 565,806 shares of company stock worth $38,789,988 over the last quarter. 3.98% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of SBUX. Oregon Public Employees Retirement Fund grew its stake in Starbucks by 5,590.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,679,558 shares of the coffee company’s stock valued at $368,000 after purchasing an additional 23,263,399 shares in the last quarter. Norges Bank bought a new position in Starbucks during the 4th quarter worth approximately $807,368,000. Polen Capital Management LLC lifted its holdings in shares of Starbucks by 46.8% in the 3rd quarter. Polen Capital Management LLC now owns 18,035,326 shares of the coffee company’s stock worth $1,025,128,000 after purchasing an additional 5,748,941 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Starbucks by 6.8% in the 3rd quarter. BlackRock Inc. now owns 90,368,884 shares of the coffee company’s stock worth $5,136,569,000 after purchasing an additional 5,714,419 shares during the last quarter. Finally, Magellan Asset Management Ltd lifted its holdings in shares of Starbucks by 17.5% in the 3rd quarter. Magellan Asset Management Ltd now owns 38,067,340 shares of the coffee company’s stock worth $2,163,748,000 after purchasing an additional 5,675,224 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.
Several equities analysts recently weighed in on the company. BidaskClub downgraded Starbucks from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 4th. BMO Capital Markets increased their target price on Starbucks to $63.00 and gave the stock a “market perform” rating in a research report on Friday, December 14th. They noted that the move was a valuation call. Mizuho set a $75.00 target price on Starbucks and gave the stock a “buy” rating in a research report on Friday, December 14th. Bank of America set a $68.00 target price on Starbucks and gave the stock a “buy” rating in a research report on Monday, December 10th. Finally, Goldman Sachs Group downgraded Starbucks from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $75.00 to $68.00 in a research report on Friday, January 11th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Starbucks currently has a consensus rating of “Hold” and an average price target of $67.01.
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Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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