Starbucks (NASDAQ:SBUX) Announces Quarterly Earnings Results

Starbucks (NASDAQ:SBUX) posted its quarterly earnings data on Tuesday. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate 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 Stock Performance

Starbucks stock traded up $0.44 during midday trading on Tuesday, hitting $100.46. 12,631,165 shares of the company’s stock were exchanged, compared to its average volume of 7,472,979. The company has a market cap of $113.90 billion, a P/E 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. The stock has a 50-day moving average price of $95.65 and a two-hundred day moving average price of $92.71.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.43%. Starbucks’s payout ratio is 73.72%.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on SBUX shares. Morgan Stanley increased their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Barclays dropped their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. UBS Group upped their price objective on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. BTIG Research boosted their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a research report on Friday. Three investment 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.08.

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.