Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Starbucks Corp. shares valued at $23,158 were sold by KELLY SARA on Mar 21 ’24. At $92.63 per share, KELLY SARA sold 250 shares. The insider’s holdings dropped to 46,924 shares worth approximately $4.03 million following the completion of this transaction.
Also, KELLY SARA sold 250 shares, netting a total of over 23,465 in proceeds. Following the sale of shares at $93.86 each, the insider now holds 46,963 shares.
Before that, Conway Michael Aaron had sold 3,250 shares from its account. In a trade valued at $305,598, the group president International traded Starbucks Corp. shares for $94.03 each. Upon closing the transaction, the insider’s holdings decreased to 3,250 shares, worth approximately $7.23 million.
As published in a research note from Robert W. Baird on March 18, 2024, Starbucks Corp. [SBUX] has been retained to a Neutral and the price target has been revised to $100. Analysts at BTIG Research resumed the stock at ‘”a Buy”‘ outlook in a report released in late January. As of January 18, 2024, Citigroup has reiterated its “Neutral” rating for SBUX. Earlier on January 16, 2024, Morgan Stanley upgraded its rating. Their new recommendation was “an Overweight” for SBUX stock which previously was a “an Equal-weight”.
Analyzing SBUX Stock Performance
During the last five days, there has been a drop of approximately -1.96%. Over the course of the year, Starbucks Corp. shares have dropped approximately -10.53%. Shares of the company reached a 52-week high of $98.36 on 01/31/24 and a 52-week low of $85.26 on 04/11/24. A 50-day SMA is recorded $92.06, while a 200-day SMA reached $95.87. Nevertheless, trading volume fell to 6.83 million shares from 7.41 million shares the previous day.
Support And Resistance Levels for Starbucks Corp. (SBUX)
According to the 24-hour chart, there is a support level at 85.34, which, if violated, would cause prices to drop to 84.77. In the upper region, resistance lies at 86.39. The next price resistance is at 86.87. RSI (Relative Strength Index) is 28.38 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.59, which suggests the price will decrease in the coming days. Percent R is at 90.83%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Starbucks Corp. subject to short interest?
Stocks of Starbucks Corp. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.73 million shares to 15.72 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 14.99 million shares. A jump of 4.64% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.04 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.04.
