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 the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

Starbucks Price Performance

NASDAQ:SBUX opened at $86.21 on Thursday. The firm’s fifty day moving average price is $91.33 and its 200 day moving average price is $94.47. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48. The firm has a market cap of $97.61 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 1.37 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The company had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. Starbucks’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. As a group, analysts expect that Starbucks Co. will post 4.03 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.64%. Starbucks’s payout ratio is currently 60.96%.

Institutional Investors Weigh In On Starbucks

Institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC boosted its position in shares of Starbucks by 481.9% during the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after purchasing an additional 1,281,471 shares in the last quarter. Metis Global Partners LLC boosted its position in shares of Starbucks by 15.4% in the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after buying an additional 7,619 shares in the last quarter. Tyche Wealth Partners LLC purchased a new stake in shares of Starbucks in the 4th quarter worth about $794,000. Insigneo Advisory Services LLC boosted its position in shares of Starbucks by 60.6% in the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after buying an additional 3,570 shares in the last quarter. Finally, Motco boosted its position in shares of Starbucks by 1.1% in the 3rd quarter. Motco now owns 74,829 shares of the coffee company’s stock worth $6,830,000 after buying an additional 811 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of research analyst reports. Wedbush reissued a “neutral” rating and set a $95.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Jefferies Financial Group cut their price objective on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday. Piper Sandler cut their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Robert W. Baird cut their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $105.00 target price on shares of Starbucks in a report on Monday, April 1st. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $107.43.

About Starbucks

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.