Rachel Ruggeri Sells 1,491 Shares of Starbucks Co. (NASDAQ:SBUX) Stock

Starbucks Co. (NASDAQ:SBUX) CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Rachel Ruggeri also recently made the following trade(s):

• On Friday, November 15th, Rachel Ruggeri sold 1,452 shares of Starbucks stock. The shares were sold at an average price of $99.07, for a total value of $143,849.64.

Starbucks Stock Performance

SBUX opened at $102.50 on Friday. The business’s 50-day simple moving average is $97.11 and its 200-day simple moving average is $87.10. Starbucks Co. has a one year low of $71.55 and a one year high of $103.60. The stock has a market capitalization of $116.21 billion, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 2.90 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.06 earnings per share. On average, equities research analysts forecast that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is 73.72%.

Hedge Funds Weigh In On Starbucks

Institutional investors have recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the 2nd quarter valued at approximately $25,000. New Millennium Group LLC purchased a new stake in Starbucks in the 2nd quarter valued at approximately $26,000. Stephens Consulting LLC boosted its holdings in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in Starbucks in the 2nd quarter valued at approximately $27,000. Finally, Olistico Wealth LLC purchased a new stake in Starbucks in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group increased their price objective on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Citigroup increased their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wedbush reduced their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and increased their price target for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.81.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.