Starbucks (NASDAQ:SBUX) Posts Earnings Results

Starbucks (NASDAQ:SBUX) released its quarterly 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%. During the same period in the prior year, the business posted $0.90 EPS.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $109.23 on Thursday. The firm’s 50 day moving average price is $95.90 and its 200 day moving average price is $93.00. The firm has a market cap of $123.85 billion, a P/E ratio of 33.07, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. Starbucks has a 1 year low of $71.55 and a 1 year high of $110.08.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is presently 73.72%.

Analysts Set New Price Targets

SBUX has been the topic of several research reports. Redburn Atlantic reissued a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Wedbush upped their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup upped their price objective on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, BMO Capital Markets lifted their price objective on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $105.52.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,452 shares of the firm’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 value of $143,849.64. Following the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.98% of the company’s stock.

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.