Starbucks Co. (NASDAQ:SBUX) Director Craig Weatherup Sells 59,838 Shares

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.

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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.

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About Starbucks

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.

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