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.
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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