Traders Buy Shares of Starbucks (SBUX) on Weakness

Investors purchased shares of Starbucks Co. (NASDAQ:SBUX) on weakness during trading hours on Friday. $78.03 million flowed into the stock on the tick-up and $62.05 million flowed out of the stock on the tick-down, for a money net flow of $15.98 million into the stock. Of all equities tracked, Starbucks had the 25th highest net in-flow for the day. Starbucks traded down ($0.28) for the day and closed at $57.30

Several research analysts recently issued reports on SBUX shares. UBS Group cut their target price on shares of Starbucks from $67.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Cowen reissued a “buy” rating and set a $63.00 target price on shares of Starbucks in a research note on Friday, September 1st. Mizuho set a $75.00 target price on shares of Starbucks and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Morgan Stanley increased their target price on shares of Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Finally, Vetr lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 price objective on the stock. in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $63.26.

The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. The stock has a market capitalization of $81,924.83, a PE ratio of 29.09, a price-to-earnings-growth ratio of 1.57 and a beta of 0.75.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the company posted $0.56 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. sell-side analysts forecast that Starbucks Co. will post 2.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Wednesday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio (DPR) is 60.91%.

In related news, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $59.43, for a total transaction of $3,565,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Howard D. Schultz sold 290,176 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the sale, the insider now owns 29,872,564 shares of the company’s stock, valued at approximately $1,703,632,324.92. The disclosure for this sale can be found here. Insiders have sold 497,808 shares of company stock valued at $28,559,521 in the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Magellan Asset Management Ltd grew its stake in Starbucks by 3,809,645.9% during the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after acquiring an additional 18,667,265 shares in the last quarter. Janus Henderson Group PLC grew its stake in Starbucks by 3,076.5% during the second quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock valued at $809,917,000 after acquiring an additional 13,452,551 shares in the last quarter. Parnassus Investments CA purchased a new position in Starbucks during the third quarter valued at approximately $498,863,000. Capital International Investors grew its stake in Starbucks by 28.3% during the third quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after acquiring an additional 4,696,452 shares in the last quarter. Finally, Harding Loevner LP purchased a new position in Starbucks during the third quarter valued at approximately $128,044,000. Hedge funds and other institutional investors own 70.67% of the company’s stock.

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About Starbucks

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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