Starbucks (NASDAQ:SBUX) Announces Quarterly Earnings Results

Starbucks (NASDAQ:SBUX) released its earnings results on Wednesday. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80, Briefing.com reports. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 45.15% and a net margin of 10.40%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the firm earned $1.06 EPS.

Starbucks Trading Up 0.4 %

NASDAQ SBUX opened at $97.70 on Friday. Starbucks has a 12 month low of $71.55 and a 12 month high of $107.66. The stock has a 50 day moving average of $95.88 and a 200-day moving average of $85.37. The company has a market cap of $110.71 billion, a PE ratio of 29.52, a PEG ratio of 2.63 and a beta of 0.97.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.50%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is currently 68.88%.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on SBUX. JPMorgan Chase & Co. raised their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and increased their price target for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Morgan Stanley lifted their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and increased their target price for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $103.32.

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.