Starbucks Co. (NASDAQ:SBUX) Declares $0.45 Quarterly Dividend

Starbucks Co. (NASDAQ:SBUX) announced a quarterly dividend on Wednesday, January 13th, RTT News reports. Investors of record on Thursday, February 18th will be paid a dividend of 0.45 per share by the coffee company on Friday, March 5th. This represents a $1.80 annualized dividend and a yield of 1.75%.

Starbucks has increased its dividend payment by 60.0% over the last three years and has raised its dividend annually for the last 9 consecutive years.

SBUX stock traded up $0.07 during trading on Wednesday, hitting $102.89. 4,674,515 shares of the company traded hands, compared to its average volume of 5,371,552. The firm has a market capitalization of $120.28 billion, a PE ratio of 92.69, a P/E/G ratio of 2.26 and a beta of 0.81. Starbucks has a 1 year low of $50.02 and a 1 year high of $107.75. The company has a 50-day moving average of $102.68 and a 200-day moving average of $88.30.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, October 29th. The coffee company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.20. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. The business had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.07 billion. During the same quarter last year, the business posted $0.70 EPS. The business’s revenue was down 8.1% on a year-over-year basis. As a group, equities analysts predict that Starbucks will post 0.99 earnings per share for the current fiscal year.

In other news, Director Joshua Cooper Ramo sold 2,925 shares of the firm’s stock in a transaction on Wednesday, November 25th. The stock was sold at an average price of $98.28, for a total value of $287,469.00. Following the transaction, the director now directly owns 25,200 shares in the company, valued at approximately $2,476,656. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Myron E. Ullman III sold 4,258 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $87.56, for a total value of $372,830.48. Following the completion of the transaction, the director now owns 22,782 shares in the company, valued at $1,994,791.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 269,489 shares of company stock worth $26,173,565. Company insiders own 0.41% of the company’s stock.

Several equities research analysts have weighed in on SBUX shares. Cowen increased their price objective on Starbucks from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, December 10th. Credit Suisse Group increased their target price on Starbucks from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Thursday, December 10th. JPMorgan Chase & Co. increased their target price on Starbucks from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 20th. Bank of America increased their target price on Starbucks from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, September 28th. Finally, Wells Fargo & Company increased their target price on Starbucks from $100.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 1st. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Starbucks presently has a consensus rating of “Buy” and an average target price of $96.62.

Starbucks Company Profile

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

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