Traders Buy High Volume of Put Options on Starbucks Corporation (SBUX)

Starbucks Corporation (NASDAQ:SBUX) saw unusually large options trading activity on Wednesday. Investors acquired 14,537 put options on the stock. This represents an increase of approximately 202% compared to the average volume of 4,812 put options.

In related news, Director Myron E. Ullman III sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total value of $606,300.00. Following the sale, the director now owns 24,000 shares in the company, valued at $1,455,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clifford Burrows sold 114,826 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total transaction of $6,827,553.96. Following the completion of the sale, the insider now owns 363,343 shares in the company, valued at approximately $21,604,374.78. The disclosure for this sale can be found here. Insiders sold 144,826 shares of company stock worth $8,642,454 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of SBUX. Union Bankshares Corp boosted its stake in Starbucks Corporation by 0.4% in the second quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock valued at $204,000 after buying an additional 14 shares during the last quarter. Vaughan David Investments Inc. IL boosted its stake in Starbucks Corporation by 0.6% in the first quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock valued at $271,000 after buying an additional 26 shares during the last quarter. Alpha Windward LLC boosted its stake in Starbucks Corporation by 1.0% in the first quarter. Alpha Windward LLC now owns 2,961 shares of the coffee company’s stock valued at $173,000 after buying an additional 30 shares during the last quarter. CWM LLC boosted its stake in Starbucks Corporation by 0.6% in the second quarter. CWM LLC now owns 5,279 shares of the coffee company’s stock valued at $308,000 after buying an additional 30 shares during the last quarter. Finally, Ingalls & Snyder LLC boosted its stake in Starbucks Corporation by 1.1% in the first quarter. Ingalls & Snyder LLC now owns 3,826 shares of the coffee company’s stock valued at $223,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

SBUX has been the topic of a number of analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $65.00 price objective on shares of Starbucks Corporation in a research report on Friday, May 12th. Zacks Investment Research cut shares of Starbucks Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, March 28th. Deutsche Bank AG upgraded shares of Starbucks Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the company from $59.00 to $69.00 in a research report on Monday, May 15th. Credit Suisse Group boosted their price objective on shares of Starbucks Corporation from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Friday, April 28th. Finally, Telsey Advisory Group initiated coverage on shares of Starbucks Corporation in a research report on Monday, March 27th. They set an “outperform” rating and a $66.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and three have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.64.

Starbucks Corporation (SBUX) opened at 57.98 on Friday. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87. The firm has a market cap of $83.96 billion, a P/E ratio of 28.67 and a beta of 0.82. The stock’s 50 day moving average is $59.94 and its 200 day moving average is $58.51.

Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results on Thursday, April 27th. The coffee company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.42 billion. Starbucks Corporation had a return on equity of 51.65% and a net margin of 13.47%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 earnings per share. On average, equities research analysts expect that Starbucks Corporation will post $2.10 EPS for the current year.

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Starbucks Corporation Company Profile

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.