Sen. Sheldon Whitehouse Sells Off Shares of Starbucks Co. (NASDAQ:SBUX)

Senator Sheldon Whitehouse (D-Rhode Island) recently sold shares of Starbucks Co. NASDAQ: SBUX. In a filing disclosed on November 07th, the Senator disclosed that they had sold between $1,001 and $15,000 in Starbucks stock on October 29th.

Senator Sheldon Whitehouse also recently made the following trade(s):

• Purchased $15,001 - $50,000 in shares of Eli Lilly and Company NYSE: LLY on 10/30/2024.
• Sold $1,001 - $15,000 in shares of Walt Disney NYSE: DIS on 10/29/2024.
• Sold $1,001 - $15,000 in shares of Honeywell International NASDAQ: HON on 10/29/2024.
• Sold $1,001 - $15,000 in shares of Mastercard NYSE: MA on 10/29/2024.
• Sold $1,001 - $15,000 in shares of Verizon Communications NYSE: VZ on 10/29/2024.
• Sold $100,001 - $250,000 in shares of Tesla NASDAQ: TSLA on 10/28/2024.
• Sold $15,001 - $50,000 in shares of Tesla NASDAQ: TSLA on 10/28/2024.
• Sold $15,001 - $50,000 in shares of Tesla NASDAQ: TSLA on 10/11/2024.
• Sold $1,001 - $15,000 in shares of Celsius NASDAQ: CELH on 10/8/2024.
• Purchased $1,001 - $15,000 in shares of Coca-Cola NYSE: KO on 10/8/2024.

Starbucks Stock Up 1.5 %

Shares of Starbucks stock traded up $1.43 on Friday, hitting $97.55. 6,113,673 shares of the company's stock traded hands, compared to its average volume of 11,210,329. The stock has a market cap of $110.54 billion, a P/E ratio of 29.04, a PEG ratio of 2.78 and a beta of 0.97. The firm's 50-day moving average is $95.99 and its 200 day moving average is $85.67. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analysts' expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business's revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 EPS. Equities research analysts forecast that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This is a boost from Starbucks's previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks's dividend payout ratio is 68.88%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the second quarter valued at about $25,000. New Millennium Group LLC bought a new position in Starbucks during the second quarter valued at about $26,000. Stephens Consulting LLC boosted its stake in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company's stock valued at $26,000 after buying an additional 279 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Starbucks during the second quarter valued at about $27,000. Finally, Olistico Wealth LLC bought a new position in Starbucks during the second quarter valued at about $31,000. Institutional investors own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several research analyst reports. UBS Group raised their price objective on Starbucks from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein upgraded Starbucks from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Citigroup raised their price objective on Starbucks from $96.00 to $99.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. BTIG Research raised their price objective on Starbucks from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Finally, BMO Capital Markets increased their target price on Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, September 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Starbucks currently has a consensus rating of "Moderate Buy" and an average price target of $103.32.

Insider Activity at Starbucks

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company's stock, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company's stock, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company's stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

About Senator Whitehouse

Sheldon Whitehouse (Democratic Party) is a member of the U.S. Senate from Rhode Island. He assumed office on January 3, 2007. His current term ends on January 3, 2025. Whitehouse (Democratic Party) is running for re-election to the U.S. Senate to represent Rhode Island. He declared candidacy for the 2024 election. Whitehouse previously served as the Rhode Island attorney general from 1999 to 2003. Before that, he was a United States attorney from 1994 to 1998. He was nominated to the position by President Bill Clinton (D). Whitehouse was a superdelegate to the 2016 Democratic National Convention from Rhode Island. He cast his vote for Hillary Clinton. As of a 2014 analysis of multiple outside rankings, Whitehouse is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills.

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.