Insider Buying: Starbucks Corporation (NASDAQ:SBUX) Director Buys 18,000 Shares of Stock

Starbucks Corporation (NASDAQ:SBUX) Director Jorgen Vig Knudstorp purchased 18,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was bought at an average cost of $55.30 per share, with a total value of $995,400.00. Following the acquisition, the director now owns 18,000 shares of the company’s stock, valued at $995,400. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Starbucks Corporation (NASDAQ:SBUX) opened at 52.70 on Friday. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87. The company’s 50-day moving average is $56.32 and its 200 day moving average is $58.13. The company has a market capitalization of $76.09 billion, a price-to-earnings ratio of 26.60 and a beta of 0.80.

Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. On average, analysts forecast that Starbucks Corporation will post $2.07 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.90%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio is 50.76%.

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Large investors have recently added to or reduced their stakes in the company. Regent Investment Management LLC raised its stake in Starbucks Corporation by 6.8% in the second quarter. Regent Investment Management LLC now owns 4,683 shares of the coffee company’s stock valued at $273,000 after buying an additional 300 shares in the last quarter. Cape Cod Five Cents Savings Bank raised its stake in shares of Starbucks Corporation by 16.9% in the second quarter. Cape Cod Five Cents Savings Bank now owns 31,902 shares of the coffee company’s stock worth $1,861,000 after buying an additional 4,616 shares during the period. Zevin Asset Management LLC raised its stake in shares of Starbucks Corporation by 1.0% in the first quarter. Zevin Asset Management LLC now owns 61,924 shares of the coffee company’s stock worth $3,616,000 after buying an additional 625 shares during the period. Sawtooth Solutions LLC raised its stake in shares of Starbucks Corporation by 60.1% in the first quarter. Sawtooth Solutions LLC now owns 18,346 shares of the coffee company’s stock worth $1,071,000 after buying an additional 6,884 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of Starbucks Corporation by 52.6% in the first quarter. Toronto Dominion Bank now owns 399,621 shares of the coffee company’s stock worth $23,332,000 after buying an additional 137,795 shares during the period. 69.98% of the stock is owned by institutional investors.

A number of brokerages have issued reports on SBUX. BMO Capital Markets cut shares of Starbucks Corporation from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $54.52 to $64.00 in a research note on Wednesday, August 9th. BidaskClub raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut shares of Starbucks Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Cowen and Company reissued an “outperform” rating and set a $63.00 price target (down from $66.00) on shares of Starbucks Corporation in a research report on Sunday, July 30th. Finally, BTIG Research reissued a “buy” rating and set a $64.00 price target on shares of Starbucks Corporation in a research report on Sunday, July 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $64.93.

About Starbucks Corporation

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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