Buying Buzz: Starbucks Corporation [SBUX] interim ceo SCHULTZ HOWARD D acquires 72,500 shares of the company

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Starbucks Corporation shares valued at $4,991,690 were purchased by SCHULTZ HOWARD D on May 12. At $68.85 per share, SCHULTZ HOWARD D acquired 72,500 shares. The insider’s holdings grew to 19,606,960 shares worth approximately $1.7 billion following the completion of this transaction.

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Also, SCHULTZ HOWARD D purchased 137,500 shares, netting a total of over 9,991,685 in proceeds. Following the buying of shares at $72.67 each, the insider now holds 19,534,460 shares.

Before that, Lis Angela had sold 6,000 shares from its account. In a trade valued at $701,280, the evp, chief partner officer traded Starbucks Corporation shares for $116.88 each. Upon closing the transaction, the insider’s holdings decreased to 6,000 shares, worth approximately $3.25 million.

As published in a research note from Deutsche Bank on July 14, 2022, Starbucks Corporation [SBUX] has been retained to a Buy and the price target has been revised to $91. This represents a 4.53% premium over Thursday’s closing price. Analysts at Evercore ISI upgraded the stock from ‘”an In-line”‘ to ‘”an Outperform”‘ outlook in a report released in early May. As of April 12, 2022, Citigroup has decreased its “Buy” rating to a “Neutral” for SBUX. Earlier on April 05, 2022, Wedbush downgraded its rating. Their new recommendation was “a Neutral” for SBUX stock which previously was a “an Outperform”.

Analyzing SBUX’s Price Performance

On Thursday, Starbucks Corporation [NASDAQ: SBUX] plunged -0.45% to $86.88. The stock’s lowest price that day was $86.57, but it reached a high of $88.275 in the same session. During the last five days, there has been a surge of approximately 2.61%. Over the course of the year, Starbucks Corporation shares have dropped approximately -25.72%. Shares of the company reached a 52-week high of $117.80 on 01/03/22 and a 52-week low of $68.39 on 05/12/22. A 50-day SMA is recorded $78.54, while a 200-day SMA reached $92.23. Nevertheless, trading volume fell to 7.07 million shares from 12.92 million shares the previous day.

Support And Resistance Levels for Starbucks Corporation (SBUX)

According to the 24-hour chart, there is a support level at 86.21, which, if violated, would cause prices to drop to 85.54. In the upper region, resistance lies at 87.91. The next price resistance is at 88.95. RSI (Relative Strength Index) is 67.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.37, which suggests the price will increase in the coming days. Percent R is at 16.86%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Starbucks Corporation subject to short interest?

Stocks of Starbucks Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.59 million shares to 16.69 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 15.1 million shares. A jump of 9.53% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.32 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.32.

Which companies own the most shares of Starbucks Corporation (SBUX)?

According to The Vanguard Group, Inc. filings, the company currently owns 96,737,471 shares, which is about 8.44% of the total SBUX shares outstanding. The investor’s shares have appreciated by 2,950,812 from its previous 13-F filing of 93786659.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $3,922,827,864. SSgA Funds Management, Inc. reduced a -4.79% interest valued at $3.53 billion while Geode Capital Management LLC purchased a 368,944 stake. A total of -843,453 shares of Starbucks Corporation were bought by Northern Trust Investments, Inc. during the quarter, and -342,005 were sold by Wellington Management Co. LLP. In its current portfolio, Managed Account Advisors LLC holds 12,145,279 shares valued at $927.78 million.

In terms of Starbucks Corporation share price expectations, FactSet research, analysts set an average price target of $92.34 in the next 12 months, up nearly 3.7% from the previous closing price of $87.27. Analysts anticipate Starbucks Corporation stock to reach $110.00 by 2022, with the lowest price target being $83.00. In spite of this, 32 analysts ranked Starbucks Corporation stock as an Overweight at the end of 2022. On March 16, 2022, JP Morgan assigned a price target of “an Overweight” to the stock and upgraded coverage with a $101.


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