Starbucks Co. (NASDAQ:SBUX) Declares Quarterly Dividend of $0.61

Starbucks Co. (NASDAQ:SBUX) announced a quarterly dividend on Tuesday, September 10th,RTT News reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.61 per share by the coffee company on Friday, November 29th. This represents a $2.44 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57.

Starbucks has raised its dividend payment by an average of 8.7% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Starbucks has a dividend payout ratio of 75.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Starbucks to earn $3.74 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 65.2%.

Starbucks Stock Up 1.0 %

Shares of Starbucks stock opened at $99.80 on Thursday. Starbucks has a 12 month low of $71.55 and a 12 month high of $107.66. The business has a fifty day simple moving average of $96.30 and a 200-day simple moving average of $85.93. The stock has a market cap of $113.09 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 2.86 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the company earned $1.06 earnings per share. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. Analysts expect that Starbucks will post 3.15 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research report on Wednesday. Finally, UBS Group boosted their price target on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $102.31.

Insider Activity at Starbucks

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.98% of the company’s stock.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.