Starbucks Co. (NASDAQ:SBUX) Director Craig Weatherup sold 59,838 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the sale, the director now directly owns 26,500 shares of the company’s stock, valued at approximately $1,592,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
SBUX stock traded down $0.80 during mid-day trading on Friday, hitting $58.34. 8,258,422 shares of the company were exchanged, compared to its average volume of 8,736,918. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 0.81. The firm has a market cap of $83,127.18, a PE ratio of 28.32, a price-to-earnings-growth ratio of 1.64 and a beta of 0.64. Starbucks Co. has a 12-month low of $52.58 and a 12-month high of $64.87.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The company had revenue of $6.07 billion during the quarter, compared to analyst estimates of $6.19 billion. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. Starbucks’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. sell-side analysts anticipate that Starbucks Co. will post 2.49 EPS for the current fiscal year.
A number of research firms have recently issued reports on SBUX. Wedbush reaffirmed a “buy” rating and set a $70.00 target price on shares of Starbucks in a report on Monday, January 22nd. They noted that the move was a valuation call. Oppenheimer reaffirmed a “buy” rating and set a $66.00 target price on shares of Starbucks in a report on Friday, January 19th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $70.00 target price (up previously from $66.00) on shares of Starbucks in a report on Friday, January 19th. Barclays reaffirmed an “equal weight” rating and set a $65.00 target price (up previously from $58.00) on shares of Starbucks in a report on Tuesday, January 16th. Finally, Goldman Sachs lowered shares of Starbucks from a “conviction-buy” rating to a “buy” rating and dropped their target price for the stock from $73.00 to $68.00 in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $64.05.
A number of hedge funds have recently made changes to their positions in SBUX. Janus Henderson Group PLC lifted its position 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 in the last quarter. Parnassus Investments CA acquired a new stake in shares of Starbucks during the third quarter worth about $498,863,000. Magellan Asset Management Ltd lifted its position 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 in the last quarter. Capital International Investors lifted its position 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 in the last quarter. Finally, Harding Loevner LP acquired a new stake in shares of Starbucks during the third quarter worth about $128,044,000. 73.52% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: This report was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this report on another publication, it was illegally copied and republished in violation of U.S. & international copyright law. The original version of this report can be read at https://www.dispatchtribunal.com/2018/04/07/craig-weatherup-sells-59838-shares-of-starbucks-co-sbux-stock.html.
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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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.