Starbucks (NASDAQ:SBUX) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Starbucks (NASDAQ:SBUX) issued its earnings results on Tuesday. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01, Zacks reports. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%.

Starbucks Trading Up 0.4 %

NASDAQ:SBUX traded up $0.44 on Tuesday, hitting $100.46. The company had a trading volume of 13,364,100 shares, compared to its average volume of 7,531,128. The firm has a 50 day moving average of $95.65 and a two-hundred day moving average of $92.71. The stock has a market capitalization of $113.90 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 2.91 and a beta of 0.99. Starbucks has a 52 week low of $71.55 and a 52 week high of $103.32.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.43%. Starbucks’s payout ratio is currently 73.72%.

Insider Transactions at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. The trade was a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several research analyst reports. Redburn Atlantic restated a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday. Wells Fargo & Company upped their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Citigroup lifted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.08.

About Starbucks

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.