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

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 Price Performance

Shares of Starbucks stock opened at $97.55 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The business has a 50-day moving average of $96.07 and a two-hundred day moving average of $85.81. The company has a market capitalization of $110.54 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 2.78 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the company earned $1.06 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts anticipate that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. This is an increase 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 is Friday, November 15th. Starbucks’s dividend payout ratio is 68.88%.

Institutional Trading of Starbucks

Hedge funds have recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks during the 2nd quarter worth approximately $25,000. New Millennium Group LLC acquired a new stake in Starbucks during the 2nd quarter worth approximately $26,000. Stephens Consulting LLC lifted its holdings in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in Starbucks during the 2nd quarter worth approximately $27,000. Finally, Olistico Wealth LLC acquired a new stake in Starbucks during the 2nd quarter worth approximately $31,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. 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 insiders.

Analysts Set New Price Targets

SBUX has been the subject of a number of research reports. BMO Capital Markets increased their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Morgan Stanley increased their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. BTIG Research increased their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.32.

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.