Starbucks Co. (NASDAQ:SBUX – Get Free Report) declared a quarterly dividend on Tuesday, June 11th, RTT News reports. Investors of record on Friday, August 16th will be paid a dividend of 0.57 per share by the coffee company on Friday, August 30th. This represents a $2.28 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, August 16th.
Starbucks has raised its dividend by an average of 8.7% per year over the last three years and has raised its dividend every year for the last 14 years. Starbucks has a dividend payout ratio of 57.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Starbucks to earn $3.95 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 57.7%.
Starbucks Stock Performance
Shares of NASDAQ:SBUX opened at $95.90 on Wednesday. Starbucks has a 1 year low of $71.55 and a 1 year high of $107.66. The stock has a 50-day simple moving average of $77.44 and a 200-day simple moving average of $83.84. The stock has a market capitalization of $108.67 billion, a P/E ratio of 26.42, a PEG ratio of 1.80 and a beta of 0.94.
Insider Activity
In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,250 shares of company stock valued at $579,375. Insiders own 1.98% of the company’s stock.
Wall Street Analysts Forecast Growth
SBUX has been the topic of several research reports. HSBC cut their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Evercore ISI cut shares of Starbucks from an “outperform” rating to an “inline” rating and reduced their target price for the stock from $92.00 to $80.00 in a research report on Tuesday, July 16th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Barclays cut their price target on Starbucks from $95.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, Bank of America raised their price objective on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Fourteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.04.
View Our Latest Stock Analysis on SBUX
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.
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