Insider Selling: Starbucks Co. (NASDAQ:SBUX) CEO Sells 3,250 Shares of Stock

Starbucks Co. (NASDAQ:SBUX) CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Michael Aaron Conway also recently made the following trade(s):

• On Thursday, February 15th, Michael Aaron Conway sold 3,250 shares of Starbucks stock. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50.

Starbucks Trading Up 0.5 %

Shares of Starbucks stock opened at $87.61 on Friday. The company’s 50-day moving average price is $90.94 and its two-hundred day moving average price is $94.39. Starbucks Co. has a 52 week low of $84.29 and a 52 week high of $115.48. The stock has a market cap of $99.19 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 1.41 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. Starbucks’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. On average, equities analysts predict that Starbucks Co. will post 4.03 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.60%. Starbucks’s dividend payout ratio is currently 60.96%.

Hedge Funds Weigh In On Starbucks

Institutional investors have recently bought and sold shares of the stock. Freedom Wealth Alliance LLC purchased a new position in Starbucks in the 4th quarter worth about $26,000. Scarborough Advisors LLC purchased a new position in Starbucks during the 4th quarter valued at about $26,000. Vima LLC purchased a new position in Starbucks during the 4th quarter valued at about $26,000. DSM Capital Partners LLC purchased a new position in Starbucks during the 4th quarter valued at about $27,000. Finally, Riggs Asset Managment Co. Inc. grew its stake in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent research reports. BMO Capital Markets cut their target price on Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 31st. Guggenheim cut their target price on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday. Robert W. Baird cut their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Stephens reiterated an “equal weight” rating and issued a $110.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research note on Tuesday, January 16th. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus target price of $106.68.

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.