SEATTLE—Sara Kelly, the Executive Vice President and Chief Partner Officer at Starbucks Corp (NASDAQ:SBUX), has sold 19,102 shares of the company's common stock. The shares were sold at a price of $101.37 per share, totaling approximately $1.94 million. The transaction comes as Starbucks, a $115.5 billion market cap company, trades near its 52-week high of $103.32. According to InvestingPro analysis, the stock appears to be fairly valued at current levels.
The transactions were part of a pre-arranged trading plan adopted by Kelly in August 2024.
In addition to the sale, Kelly exercised options to acquire 11,602 shares of Starbucks stock. These options were exercised at prices ranging from $56.10 to $60.68 per share, resulting in a total transaction value of approximately $673,126.
After these transactions, Kelly holds 46,114.7755 shares of Starbucks stock.
In other recent news, Starbucks Corporation (NASDAQ:SBUX) reported a mixed financial performance with a 3% drop in Q4 revenue to $9.1 billion due to a 7% decrease in comparable store sales. However, the fiscal year showed a slight rise in consolidated net revenues to $36.2 billion, despite a 2% decline in comparable store sales. The earnings per share for the quarter also fell by 24% to $0.80. Amid these developments, Redburn-Atlantic downgraded Starbucks' stock from Neutral to Sell, citing concerns over the company's ability to manage rising costs. In other company news, Chipotle Mexican Grill (NYSE:CMG) is facing a class-action lawsuit filed by shareholders over inconsistent portion sizes. These events are part of the recent developments shaping the investment landscape.
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