Starbucks (NASDAQ:SBUX) Announces Earnings Results, Hits Estimates

Starbucks (NASDAQ:SBUX) posted its quarterly earnings data on Tuesday. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93, Briefing.com reports. Starbucks had a net margin of 11.16% and a negative return on equity of 48.78%. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period last year, the firm posted $1.00 EPS. Starbucks’s quarterly revenue was down .6% on a year-over-year basis.

Starbucks Trading Down 3.6 %

SBUX traded down $2.84 during midday trading on Thursday, hitting $75.11. The company’s stock had a trading volume of 16,903,629 shares, compared to its average volume of 10,838,720. The firm has a market cap of $85.08 billion, a P/E ratio of 20.53, a PEG ratio of 1.72 and a beta of 0.94. The firm has a 50-day moving average price of $77.74 and a two-hundred day moving average price of $84.84. Starbucks has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders sold 7,250 shares of company stock worth $579,375 in the last 90 days. 1.98% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Guggenheim lowered their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. UBS Group reduced their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. The Goldman Sachs Group assumed coverage on Starbucks in a report on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price for the company. JPMorgan Chase & Co. reduced their target price on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Finally, Barclays reduced their target price on Starbucks from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday. Seventeen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Starbucks currently has an average rating of “Hold” and an average target price of $90.88.

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.