Starbucks Corporation (SBUX) Short Interest Update

Starbucks Corporation (NASDAQ:SBUX) saw a large decrease in short interest in September. As of September 29th, there was short interest totalling 24,168,964 shares, a decrease of 9.4% from the September 15th total of 26,687,004 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 7,921,943 shares, the days-to-cover ratio is currently 3.1 days.

Shares of Starbucks Corporation (NASDAQ:SBUX) opened at 55.97 on Friday. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87. The firm has a market capitalization of $80.82 billion, a P/E ratio of 28.25 and a beta of 0.78. The stock has a 50 day moving average of $54.57 and a 200-day moving average of $57.73.

Starbucks Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same period in the prior year, the firm earned $0.49 earnings per share. Starbucks Corporation’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts predict that Starbucks Corporation will post $2.06 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on SBUX shares. Jefferies Group LLC reaffirmed an “average” rating and issued a $65.00 target price on shares of Starbucks Corporation in a report on Friday, July 28th. BidaskClub lowered shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. UBS AG set a $70.00 target price on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Wednesday, June 28th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $70.00 target price on shares of Starbucks Corporation in a report on Friday, July 14th. Finally, Mizuho reaffirmed a “buy” rating and issued a $75.00 target price on shares of Starbucks Corporation in a report on Thursday, July 6th. Thirteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. Starbucks Corporation has a consensus rating of “Buy” and an average price target of $64.24.

In other news, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the transaction, the director now owns 36,966 shares in the company, valued at approximately $1,974,354.06. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jorgen Vig Knudstorp acquired 18,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was acquired at an average price of $55.30 per share, with a total value of $995,400.00. Following the purchase, the director now owns 18,000 shares in the company, valued at approximately $995,400. The disclosure for this purchase can be found here. Corporate insiders own 3.40% of the company’s stock.

Several large investors have recently modified their holdings of SBUX. Jacobi Capital Management LLC raised its position in shares of Starbucks Corporation by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after purchasing an additional 50 shares during the period. Gradient Investments LLC raised its position in shares of Starbucks Corporation by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after purchasing an additional 46 shares during the period. Sharkey Howes & Javer raised its position in shares of Starbucks Corporation by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after purchasing an additional 150 shares during the period. IHT Wealth Management LLC raised its position in shares of Starbucks Corporation by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after purchasing an additional 187 shares during the period. Finally, TrimTabs Asset Management LLC acquired a new position in shares of Starbucks Corporation during the first quarter worth approximately $122,000. 70.82% of the stock is currently owned by institutional investors.

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Starbucks Corporation Company Profile

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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