Insider Selling: Starbucks Co. (NASDAQ:SBUX) CEO Sells $277,517.50 in Stock

Starbucks Co. (NASDAQ:SBUX) CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Michael Aaron Conway also recently made the following trade(s):

• On Thursday, February 15th, Michael Aaron Conway sold 3,250 shares of Starbucks stock. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $87.61 on Friday. The firm has a market capitalization of $99.19 billion, a P/E ratio of 23.43, a PEG ratio of 1.41 and a beta of 0.97. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48. The company’s fifty day moving average is $90.94 and its two-hundred day moving average is $94.39.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Starbucks’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, sell-side analysts forecast that Starbucks Co. will post 4.03 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.60%. Starbucks’s dividend payout ratio is presently 60.96%.

Institutional Investors Weigh In On Starbucks

Several institutional investors and hedge funds have recently made changes to their positions in SBUX. BCK Partners Inc. purchased a new stake in shares of Starbucks in the 1st quarter worth about $2,640,000. American Century Companies Inc. boosted its position in shares of Starbucks by 7.3% in the 1st quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock worth $2,514,000 after buying an additional 1,872 shares in the last quarter. Roundview Capital LLC raised its stake in Starbucks by 37.5% in the 1st quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock valued at $651,000 after purchasing an additional 1,952 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Starbucks in the 1st quarter valued at about $198,000. Finally, Mather Group LLC. raised its stake in Starbucks by 77.5% in the 1st quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock valued at $629,000 after purchasing an additional 3,017 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SBUX shares. Citigroup cut their price objective on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. BTIG Research cut their target price on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Guggenheim cut their target price on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Finally, Jefferies Financial Group cut their target price on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $106.68.

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.