Starbucks Co. (NASDAQ:SBUX) EVP Sara Kelly Sells 250 Shares

Starbucks Co. (NASDAQ:SBUX) EVP Sara Kelly sold 250 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $88.00, for a total value of $22,000.00. Following the completion of the sale, the executive vice president now owns 46,441 shares in the company, valued at $4,086,808. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Sara Kelly also recently made the following trade(s):

• On Thursday, March 21st, Sara Kelly sold 250 shares of Starbucks stock. The shares were sold at an average price of $92.63, for a total transaction of $23,157.50.
• On Wednesday, February 21st, Sara Kelly sold 250 shares of Starbucks stock. The shares were sold at an average price of $93.86, for a total transaction of $23,465.00.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $88.25 on Friday. The business has a 50-day moving average of $90.36 and a 200-day moving average of $94.27. The company has a market capitalization of $99.92 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.48 and a beta of 0.97. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 EPS. Research analysts expect that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given 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 2.58%. Starbucks’s payout ratio is currently 60.96%.

Analysts Set New Price Targets

SBUX has been the subject of several recent analyst reports. Morgan Stanley lowered their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Wedbush dropped their target price on Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday. Guggenheim decreased their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. BTIG Research dropped their price objective on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Finally, Piper Sandler lowered their target price on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Fourteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $106.55.

Institutional Trading of Starbucks

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital Investment Advisors LLC grew its position in shares of Starbucks by 1.0% during the third quarter. Capital Investment Advisors LLC now owns 12,710 shares of the coffee company’s stock worth $1,160,000 after buying an additional 128 shares in the last quarter. 1900 Wealth Management LLC bought a new stake in shares of Starbucks in the 3rd quarter worth about $264,000. DAVENPORT & Co LLC lifted its position in shares of Starbucks by 1.1% during the third quarter. DAVENPORT & Co LLC now owns 104,843 shares of the coffee company’s stock worth $9,569,000 after purchasing an additional 1,177 shares during the last quarter. Mach 1 Financial Group LLC acquired a new position in Starbucks in the third quarter worth about $225,000. Finally, KFG Wealth Management LLC increased its holdings in Starbucks by 8.5% in the third quarter. KFG Wealth Management LLC now owns 3,083 shares of the coffee company’s stock valued at $281,000 after buying an additional 241 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

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.