Starbucks Co. (SBUX) To Go Ex-Dividend on August 16th

Starbucks Co. (NASDAQ:SBUX) 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.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the previous year, the firm earned $1.00 earnings per share. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. Analysts predict that Starbucks will post 3.55 earnings per share for the current year.

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.

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.