Starbucks Corp. (NASDAQ:SBUX) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 13,489,166 shares, a drop of 8.0% from the August 31st total of 14,656,494 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 9,074,473 shares, the short-interest ratio is currently 1.5 days.
SBUX has been the topic of a number of analyst reports. Morgan Stanley reiterated a “buy” rating and issued a $64.00 price objective on shares of Starbucks Corp. in a research report on Sunday, August 14th. Zacks Investment Research lowered shares of Starbucks Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 21st. Macquarie upgraded shares of Starbucks Corp. from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 14th. RBC Capital Markets reiterated an “outperform” rating and issued a $68.00 price objective on shares of Starbucks Corp. in a research report on Tuesday, September 13th. Finally, Jefferies Group reiterated a “buy” rating on shares of Starbucks Corp. in a research report on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Starbucks Corp. has an average rating of “Buy” and an average target price of $66.36.
In related news, Director Myron E. Ullman III sold 12,654 shares of Starbucks Corp. stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $58.70, for a total value of $742,789.80. Following the transaction, the director now directly owns 26,654 shares in the company, valued at approximately $1,564,589.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.38% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in SBUX. Vanguard Group Inc. raised its stake in shares of Starbucks Corp. by 0.8% in the second quarter. Vanguard Group Inc. now owns 86,325,173 shares of the coffee company’s stock worth $4,930,894,000 after buying an additional 715,837 shares during the last quarter. Capital World Investors raised its stake in shares of Starbucks Corp. by 8.1% in the second quarter. Capital World Investors now owns 26,626,026 shares of the coffee company’s stock worth $1,520,879,000 after buying an additional 2,000,107 shares during the last quarter. Janus Capital Management LLC raised its stake in shares of Starbucks Corp. by 8.7% in the second quarter. Janus Capital Management LLC now owns 21,122,832 shares of the coffee company’s stock worth $1,206,513,000 after buying an additional 1,691,400 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Starbucks Corp. by 0.3% in the first quarter. BlackRock Fund Advisors now owns 20,001,710 shares of the coffee company’s stock worth $1,194,102,000 after buying an additional 66,026 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Starbucks Corp. by 6.6% in the first quarter. Geode Capital Management LLC now owns 13,405,080 shares of the coffee company’s stock worth $798,832,000 after buying an additional 829,990 shares during the last quarter. Hedge funds and other institutional investors own 68.13% of the company’s stock.
Starbucks Corp. (NASDAQ:SBUX) opened at 53.98 on Thursday. The stock has a market capitalization of $79.17 billion, a PE ratio of 30.33 and a beta of 0.80. Starbucks Corp. has a 1-year low of $52.63 and a 1-year high of $64.00. The stock’s 50 day moving average price is $55.23 and its 200 day moving average price is $56.70.
Starbucks Corp. (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.49. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. The firm earned $5.20 billion during the quarter, compared to analyst estimates of $5.34 billion. Equities research analysts forecast that Starbucks Corp. will post $1.89 earnings per share for the current year.
About Starbucks Corp.
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
Receive News & Ratings for Starbucks Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corp. and related companies with MarketBeat.com's FREE daily email newsletter.