Traders Buy Shares of Starbucks Corporation (SBUX) on Weakness

Investors bought shares of Starbucks Corporation (NASDAQ:SBUX) on weakness during trading hours on Friday. $72.95 million flowed into the stock on the tick-up and $39.71 million flowed out of the stock on the tick-down, for a money net flow of $33.24 million into the stock. Of all companies tracked, Starbucks Corporation had the 8th highest net in-flow for the day. Starbucks Corporation traded down ($0.25) for the day and closed at $55.72

A number of equities analysts recently weighed in on SBUX shares. Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Cowen and Company restated a “buy” rating and set a $63.00 target price on shares of Starbucks Corporation in a research report on Friday, September 1st. Bank of America Corporation restated a “neutral” rating and set a $65.00 target price on shares of Starbucks Corporation in a research report on Thursday, September 14th. Wedbush upgraded shares of Starbucks Corporation from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $57.00 to $60.00 in a research report on Friday, August 25th. Finally, Vetr upgraded shares of Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $67.14 target price for the company in a research report on Thursday, June 22nd. Thirteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Starbucks Corporation presently has a consensus rating of “Buy” and an average target price of $64.24.

The stock has a 50-day moving average of $54.57 and a 200 day moving average of $57.73. The firm has a market cap of $80.45 billion, a P/E ratio of 28.13 and a beta of 0.78.

Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the previous year, the company posted $0.49 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that Starbucks Corporation will post $2.06 earnings per share for the current year.

In other news, Director Myron E. Ullman III sold 22,966 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the completion of the transaction, the director now directly owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Culver sold 64,776 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $53.54, for a total value of $3,468,107.04. Following the transaction, the insider now directly owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Starbucks Corporation by 2.1% during the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after buying an additional 1,953,003 shares in the last quarter. State Street Corp grew its position in shares of Starbucks Corporation by 2.7% during the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock worth $3,551,445,000 after buying an additional 1,598,669 shares in the last quarter. Capital World Investors grew its position in shares of Starbucks Corporation by 2.0% during the second quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock worth $2,650,696,000 after buying an additional 895,432 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Starbucks Corporation by 7.8% during the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock worth $1,796,675,000 after buying an additional 2,234,324 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Starbucks Corporation by 5.2% during the second quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock worth $1,250,919,000 after buying an additional 1,060,298 shares in the last quarter. 70.82% of the stock is owned by institutional investors and hedge funds.

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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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