Michael Aaron Conway Sells 3,250 Shares of Starbucks Co. (NASDAQ:SBUX) Stock

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

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 shares were sold at an average price of $94.03, for a total transaction of $305,597.50.

Starbucks Trading Up 0.9 %

Shares of SBUX stock traded up $0.79 on Wednesday, hitting $86.21. The stock had a trading volume of 6,868,527 shares, compared to its average volume of 8,370,617. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48. The firm has a market cap of $97.61 billion, a P/E ratio of 22.98, a PEG ratio of 1.36 and a beta of 0.97. The company has a fifty day moving average price of $91.51 and a two-hundred day moving average price of $94.53.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the firm earned $0.75 EPS. Starbucks’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts expect that Starbucks Co. will post 4.04 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is 60.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SBUX shares. BMO Capital Markets cut their target price on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st. Piper Sandler cut their target price on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. JPMorgan Chase & Co. cut their target price on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, March 19th. Wedbush reissued a “neutral” rating and issued a $95.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $107.43.

Hedge Funds Weigh In On Starbucks

Institutional investors and hedge funds have recently made changes to their positions in the company. Vima LLC bought a new stake in Starbucks in the 4th quarter valued at $26,000. Scarborough Advisors LLC bought a new stake in Starbucks in the 4th quarter valued at $26,000. Freedom Wealth Alliance LLC bought a new stake in Starbucks in the 4th quarter valued at $26,000. DSM Capital Partners LLC bought a new stake in Starbucks in the 4th quarter valued at $27,000. Finally, Riggs Asset Managment Co. Inc. lifted its position in Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.