Starbucks (SBUX) Short Interest Up 7.5% in April
Starbucks (NASDAQ:SBUX) was the target of a significant growth in short interest in April. As of April 13th, there was short interest totalling 34,460,056 shares, a growth of 7.5% from the March 30th total of 32,069,524 shares. Based on an average daily trading volume, of 8,305,230 shares, the days-to-cover ratio is currently 4.1 days. Currently, 2.5% of the shares of the stock are short sold.
Shares of Starbucks stock opened at $58.36 on Friday. The stock has a market capitalization of $81,117.17, a P/E ratio of 28.33, a price-to-earnings-growth ratio of 1.60 and a beta of 0.64. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 0.81. Starbucks has a 1 year low of $52.58 and a 1 year high of $64.87.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, April 26th. The coffee company reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $5.93 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS. research analysts forecast that Starbucks will post 2.49 earnings per share for the current year.
Several research analysts recently weighed in on the company. Wedbush reaffirmed a “hold” rating and set a $58.00 target price on shares of Starbucks in a research note on Friday. Oppenheimer reaffirmed an “outperform” rating on shares of Starbucks in a research note on Friday. Piper Jaffray reaffirmed an “overweight” rating on shares of Starbucks in a research note on Friday. Vetr raised Starbucks from a “hold” rating to a “buy” rating and set a $59.39 target price for the company in a research note on Tuesday, April 3rd. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $63.00 target price on shares of Starbucks in a report on Friday, January 26th. Thirteen research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $64.25.
In related news, Director Craig Weatherup sold 59,838 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the completion of the transaction, the director now owns 26,500 shares of the company’s stock, valued at $1,592,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Myron E. Ullman III sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.52, for a total value of $1,363,000.00. Following the transaction, the director now directly owns 39,000 shares of the company’s stock, valued at approximately $2,126,280. The disclosure for this sale can be found here. Insiders have sold 247,664 shares of company stock valued at $14,243,602 in the last ninety days. Company insiders own 3.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Taylor Hoffman Wealth Management acquired a new position in Starbucks in the 4th quarter worth about $107,000. Sumitomo Mitsui Financial Group Inc. acquired a new position in Starbucks in the 3rd quarter worth about $111,000. Prime Capital Investment Advisors LLC acquired a new position in Starbucks in the 4th quarter worth about $113,000. Gradient Investments LLC acquired a new position in Starbucks in the 4th quarter worth about $117,000. Finally, Horan Capital Advisors LLC. acquired a new position in Starbucks in the 3rd quarter worth about $131,000. 73.55% of the stock is owned by hedge funds and other institutional investors.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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