Traders Buy Starbucks (SBUX) on Weakness

Investors bought shares of Starbucks Co. (NASDAQ:SBUX) on weakness during trading hours on Thursday. $88.25 million flowed into the stock on the tick-up and $47.64 million flowed out of the stock on the tick-down, for a money net flow of $40.61 million into the stock. Of all equities tracked, Starbucks had the 18th highest net in-flow for the day. Starbucks traded down ($0.28) for the day and closed at $59.22

Several research firms have recently weighed in on SBUX. Goldman Sachs cut shares of Starbucks from a “conviction-buy” rating to a “buy” rating and lowered their price objective for the company from $73.00 to $68.00 in a research report on Friday, January 26th. BTIG Research restated a “buy” rating and set a $64.00 price objective on shares of Starbucks in a research report on Friday, January 26th. Vetr upgraded shares of Starbucks from a “buy” rating to a “strong-buy” rating and set a $62.03 price objective on the stock in a research report on Monday, February 5th. Tigress Financial restated a “buy” rating on shares of Starbucks in a research report on Tuesday, January 2nd. Finally, BidaskClub upgraded shares of Starbucks from a “hold” rating to a “buy” rating in a research report on Friday, March 30th. Thirteen analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $64.17.

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The firm has a market capitalization of $83,239.63, a PE ratio of 28.16, a price-to-earnings-growth ratio of 1.64 and a beta of 0.64. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.19 billion. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. equities analysts anticipate that Starbucks Co. will post 2.49 earnings per share for the current year.

In other news, insider Clifford Burrows sold 162,826 shares of Starbucks stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the sale, the insider now owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig Weatherup sold 59,838 shares of Starbucks stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the sale, the director now directly owns 26,500 shares in the company, valued at approximately $1,592,650. The disclosure for this sale can be found here. In the last three months, insiders sold 247,664 shares of company stock worth $14,243,602. Insiders own 3.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Argus Investors Counsel Inc. lifted its position in Starbucks by 1.2% during the 4th quarter. Argus Investors Counsel Inc. now owns 72,413 shares of the coffee company’s stock valued at $4,159,000 after acquiring an additional 866 shares during the period. NEXT Financial Group Inc lifted its position in Starbucks by 11.5% during the 3rd quarter. NEXT Financial Group Inc now owns 8,853 shares of the coffee company’s stock valued at $493,000 after acquiring an additional 910 shares during the period. MAI Capital Management lifted its position in Starbucks by 4.5% during the 4th quarter. MAI Capital Management now owns 21,389 shares of the coffee company’s stock valued at $1,228,000 after acquiring an additional 912 shares during the period. V Wealth Management LLC lifted its position in Starbucks by 8.6% during the 4th quarter. V Wealth Management LLC now owns 11,542 shares of the coffee company’s stock valued at $680,000 after acquiring an additional 914 shares during the period. Finally, Laurel Wealth Advisors Inc. lifted its position in Starbucks by 6.6% during the 3rd quarter. Laurel Wealth Advisors Inc. now owns 15,542 shares of the coffee company’s stock valued at $834,000 after acquiring an additional 960 shares during the period. 73.47% of the stock is currently owned by hedge funds and other institutional investors.

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About Starbucks

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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