Mellody L. Hobson Acquires 54,750 Shares of Starbucks Co. (NASDAQ:SBUX) Stock

Starbucks Co. (NASDAQ:SBUXGet Rating) Director Mellody L. Hobson purchased 54,750 shares of the firm’s stock in a transaction on Thursday, September 15th. The shares were acquired at an average cost of $92.58 per share, for a total transaction of $5,068,755.00. Following the completion of the acquisition, the director now owns 433,254 shares of the company’s stock, valued at $40,110,655.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $91.31 on Friday. The company has a market cap of $104.77 billion, a P/E ratio of 25.72, a PEG ratio of 2.48 and a beta of 0.94. Starbucks Co. has a 1 year low of $68.39 and a 1 year high of $117.80. The firm has a 50-day simple moving average of $85.13 and a two-hundred day simple moving average of $81.50.

Starbucks (NASDAQ:SBUXGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same quarter in the prior year, the firm earned $1.01 earnings per share. As a group, equities research analysts expect that Starbucks Co. will post 2.88 EPS for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, August 11th. Starbucks’s dividend payout ratio is presently 55.21%.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Starbucks from $93.00 to $101.00 and gave the company a “buy” rating in a report on Thursday. Piper Sandler raised their price target on Starbucks from $84.00 to $92.00 and gave the company a “neutral” rating in a report on Friday. Wedbush raised their price objective on Starbucks from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday. Cowen raised their price objective on Starbucks from $94.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. Finally, Robert W. Baird raised their price objective on Starbucks from $86.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday. Fifteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $104.71.

Institutional Trading of Starbucks

Institutional investors and hedge funds have recently modified their holdings of the stock. Guardian Wealth Management Inc. bought a new position in Starbucks in the fourth quarter worth approximately $25,000. Bromfield Sneider Wealth Advisors bought a new position in Starbucks in the first quarter worth approximately $25,000. Burleson & Company LLC raised its stake in Starbucks by 2,660.0% in the first quarter. Burleson & Company LLC now owns 276 shares of the coffee company’s stock worth $25,000 after buying an additional 266 shares in the last quarter. New Millennium Group LLC bought a new position in Starbucks in the second quarter worth approximately $25,000. Finally, Delos Wealth Advisors LLC bought a new position in Starbucks in the fourth quarter worth approximately $28,000. Institutional investors own 67.97% of the company’s stock.

About Starbucks

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Insider Buying and Selling by Quarter for Starbucks (NASDAQ:SBUX)

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