Starbucks (NASDAQ:SBUX) declared a quarterly dividend on Thursday, April 26th, RTT News reports. Investors of record on Thursday, May 10th will be given a dividend of 0.30 per share by the coffee company on Friday, May 25th. This represents a $1.20 annualized dividend and a yield of 2.02%.
NASDAQ SBUX traded up $1.67 during trading hours on Thursday, hitting $59.38. 13,845,053 shares of the stock were exchanged, compared to its average volume of 10,271,792. The stock has a market capitalization of $81,257.73, a P/E ratio of 28.83, a P/E/G ratio of 1.60 and a beta of 0.64. Starbucks has a 12-month low of $52.58 and a 12-month high of $64.87. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The firm had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same period in the prior year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. equities research analysts expect that Starbucks will post 2.49 earnings per share for the current fiscal year.
A number of research analysts have issued reports on SBUX shares. Vetr cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $61.72 target price for the company. in a report on Monday, January 8th. Tigress Financial started coverage on shares of Starbucks in a report on Wednesday, December 27th. They issued a “buy” rating for the company. Goldman Sachs cut shares of Starbucks from a “conviction-buy” rating to a “buy” rating and dropped their target price for the company from $73.00 to $68.00 in a report on Friday, January 26th. William Blair reaffirmed an “outperform” rating on shares of Starbucks in a report on Friday, January 26th. Finally, Wedbush reaffirmed a “buy” rating and issued a $70.00 target price on shares of Starbucks in a report on Monday, January 22nd. They noted that the move was a valuation call. Thirteen analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $64.17.
In related news, Director Craig Weatherup sold 59,838 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the sale, the director now owns 26,500 shares in the company, valued at $1,592,650. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Clifford Burrows sold 162,826 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the sale, the insider now owns 331,829 shares in the company, valued at approximately $18,920,889.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 247,664 shares of company stock worth $14,243,602. 3.40% of the stock is owned by company insiders.
An institutional investor recently raised its position in Starbucks stock. Buckingham Capital Management Inc. increased its position in shares of Starbucks (NASDAQ:SBUX) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,487 shares of the coffee company’s stock after acquiring an additional 1,245 shares during the quarter. Buckingham Capital Management Inc.’s holdings in Starbucks were worth $2,551,000 as of its most recent filing with the SEC. 73.55% of the stock is currently owned by institutional investors.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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