Sen. Sheldon Whitehouse Sells Off Shares of Starbucks Co. (NASDAQ:SBUX)

Senator Sheldon Whitehouse (D-Rhode Island) recently sold shares of Starbucks Co. (NASDAQ:SBUX). In a filing disclosed on November 07th, the Senator disclosed that they had sold between $1,001 and $15,000 in Starbucks stock on October 29th.

Senator Sheldon Whitehouse also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of Eli Lilly and Company (NYSE:LLY) on 10/30/2024.
• Sold $1,001 – $15,000 in shares of Walt Disney (NYSE:DIS) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Honeywell International (NASDAQ:HON) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Mastercard (NYSE:MA) on 10/29/2024.
• Sold $1,001 – $15,000 in shares of Verizon Communications (NYSE:VZ) on 10/29/2024.
• Sold $100,001 – $250,000 in shares of Tesla (NASDAQ:TSLA) on 10/28/2024.
• Sold $15,001 – $50,000 in shares of Tesla (NASDAQ:TSLA) on 10/28/2024.
• Sold $15,001 – $50,000 in shares of Tesla (NASDAQ:TSLA) on 10/11/2024.
• Purchased $1,001 – $15,000 in shares of Coca-Cola (NYSE:KO) on 10/8/2024.
• Sold $1,001 – $15,000 in shares of Celsius (NASDAQ:CELH) on 10/8/2024.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $96.12 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The company has a market cap of $108.92 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 2.81 and a beta of 0.97. The business’s 50 day moving average price is $95.99 and its 200-day moving average price is $85.67.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $1.06 earnings per share. Sell-side analysts predict that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is 73.72%.

Insiders Place Their Bets

In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Several large investors have recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the second quarter valued at $25,000. New Millennium Group LLC purchased a new stake in shares of Starbucks in the second quarter worth about $26,000. Stephens Consulting LLC grew its holdings in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares during the period. Hobbs Group Advisors LLC purchased a new position in Starbucks during the second quarter valued at approximately $27,000. Finally, Olistico Wealth LLC acquired a new position in Starbucks in the second quarter valued at approximately $31,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on SBUX. UBS Group upped their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price objective on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Barclays decreased their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and dropped their price target for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Finally, BTIG Research upped their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.32.

About Senator Whitehouse

Sheldon Whitehouse (Democratic Party) is a member of the U.S. Senate from Rhode Island. He assumed office on January 3, 2007. His current term ends on January 3, 2025. Whitehouse (Democratic Party) is running for re-election to the U.S. Senate to represent Rhode Island. He declared candidacy for the 2024 election. Whitehouse previously served as the Rhode Island attorney general from 1999 to 2003. Before that, he was a United States attorney from 1994 to 1998. He was nominated to the position by President Bill Clinton (D). Whitehouse was a superdelegate to the 2016 Democratic National Convention from Rhode Island. He cast his vote for Hillary Clinton. As of a 2014 analysis of multiple outside rankings, Whitehouse is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills.

Starbucks Company Profile

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.