Starbucks Corporation (NASDAQ:SBUX) was the recipient of some unusual options trading on Wednesday. Stock traders purchased 14,537 put options on the stock. This represents an increase of approximately 202% compared to the typical daily volume of 4,812 put options.
A number of equities analysts have recently weighed in on the company. UBS AG set a $70.00 target price on Starbucks Corporation and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Stifel Nicolaus upgraded Starbucks Corporation to a “buy” rating in a research note on Saturday, May 13th. Wedbush reiterated a “hold” rating on shares of Starbucks Corporation in a research note on Friday, July 28th. Guggenheim lowered Starbucks Corporation from a “buy” rating to a “neutral” rating in a research note on Friday, July 28th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $64.00 target price (down previously from $67.00) on shares of Starbucks Corporation in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $64.93.
In other news, Director Myron E. Ullman III sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total transaction of $606,300.00. Following the transaction, the director now owns 24,000 shares in the company, valued at $1,455,120. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Clifford Burrows sold 114,826 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total value of $6,827,553.96. Following the transaction, 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. 3.40% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Magellan Asset Management Ltd increased its position in Starbucks Corporation by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock worth $1,090,000,000 after buying an additional 18,667,265 shares during the last quarter. Norges Bank bought a new position in Starbucks Corporation during the fourth quarter worth about $680,375,000. Ameriprise Financial Inc. increased its position in Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock worth $827,444,000 after buying an additional 3,511,080 shares during the last quarter. Bank of New York Mellon Corp increased its position in Starbucks Corporation by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock worth $1,796,675,000 after buying an additional 2,234,324 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Starbucks Corporation by 60.0% in the second quarter. Principal Financial Group Inc. now owns 4,476,324 shares of the coffee company’s stock worth $261,014,000 after buying an additional 1,678,506 shares during the last quarter. 69.85% of the stock is owned by institutional investors.
Shares of Starbucks Corporation (SBUX) opened at 54.52 on Wednesday. The stock has a 50 day moving average price of $58.05 and a 200 day moving average price of $58.43. The firm has a market capitalization of $78.72 billion, a P/E ratio of 27.52 and a beta of 0.80. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the prior year, the firm earned $0.49 earnings per share. Starbucks Corporation’s revenue was up 8.1% on a year-over-year basis. Analysts forecast that Starbucks Corporation will post $2.08 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s payout ratio is currently 50.76%.
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About Starbucks Corporation
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.
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