Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Starbucks Corporation shares valued at $77,648 were sold by Ruggeri Rachel on Feb 21. At $105.50 per share, Ruggeri Rachel sold 736 shares. The insider’s holdings dropped to 56,028 shares worth approximately $5.68 million following the completion of this transaction.
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Also, Jenkins Zabrina sold 2,962 shares, netting a total of over 321,317 in proceeds. Following the sale of shares at $108.48 each, the insider now holds 38,258 shares.
Before that, Ruggeri Rachel had sold 3,960 shares from its account. In a trade valued at $421,740, the evp, cfo traded Starbucks Corporation shares for $106.50 each. Upon closing the transaction, the insider’s holdings decreased to 3,960 shares, worth approximately $5.88 million.
As published in their initiating research note from Wells Fargo on January 24, 2023, Starbucks Corporation [SBUX] has been an Overweight and the price target has been revised to $120. This represents a 15.47% premium over Wednesday’s closing price. Analysts at Jefferies downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late December. As of December 05, 2022, Deutsche Bank has decreased its “Buy” rating to a “Hold” for SBUX. Earlier on September 23, 2022, Stephens initiated its rating. Their recommendation was “an Equal-weight” for SBUX stock.
Analyzing SBUX Stock Performance
On Wednesday, Starbucks Corporation [NASDAQ: SBUX] plunged -0.65% to $101.43. The stock’s lowest price that day was $100.905, but it reached a high of $102.33 in the same session. During the last five days, there has been a drop of approximately -3.19%. Over the course of the year, Starbucks Corporation shares have jumped approximately 2.25%. Shares of the company reached a 52-week high of $110.83 on 02/02/23 and a 52-week low of $99.47 on 01/03/23. A 50-day SMA is recorded $104.50, while a 200-day SMA reached $90.51. Nevertheless, trading volume fell to 5.38 million shares from 5.19 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 100.78, which, if violated, would cause prices to drop to 100.13. In the upper region, resistance lies at 102.21. The next price resistance is at 102.98. RSI (Relative Strength Index) is 36.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.29, which suggests the price will decrease in the coming days. Percent R is at 92.63%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Starbucks Corporation subject to short interest?
Stocks of Starbucks Corporation saw a sharp steep in short interest on Jan 30, 2023 dropping by -3.28 million shares to 10.98 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 14.26 million shares. A decline of -29.87% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.71 of the overall float, the days-to-cover ratio (short ratio) decline to 1.71.
Which companies own the most shares of Starbucks Corporation (SBUX)?
According to The Vanguard Group, Inc. filings, the company currently owns 100,886,712 shares, which is about 8.79% of the total SBUX shares outstanding. The investor’s shares have appreciated by 1,692,811 from its previous 13-F filing of 99193901.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $5,443,024,077. SSgA Funds Management, Inc. reduced a -2.03% interest valued at $4.8 billion while Capital Research & Management Co purchased a 795,790 stake. A total of 487,878 shares of Starbucks Corporation were bought by Geode Capital Management LLC during the quarter, and 1,284,135 were bought by Managed Account Advisors LLC. In its current portfolio, Northern Trust Investments, Inc. holds 14,283,586 shares valued at $1.56 billion.
In terms of Starbucks Corporation share price expectations, FactSet research, analysts set an average price target of $113.00 in the next 12 months, up nearly 12.65% from the previous closing price of $102.09. Analysts anticipate Starbucks Corporation stock to reach $138.00 by 2023, with the lowest price target being $91.00. In spite of this, 33 analysts ranked Starbucks Corporation stock as an Overweight at the end of 2023. On September 08, 2022, Bernstein assigned a price target of “a Mkt perform” to the stock and initiated coverage with a $94.