Starbucks Co. (NASDAQ:SBUX) Plans Quarterly Dividend of $0.61

Starbucks Co. (NASDAQ:SBUX - Get Free Report) declared a quarterly dividend on Tuesday, October 22nd, RTT News reports. Investors of record on Friday, November 15th will be given a dividend of 0.61 per share by the coffee company on Friday, November 29th. This represents a $2.44 annualized dividend and a yield of 2.52%. This is a boost from Starbucks's previous quarterly dividend of $0.57.

Starbucks has increased its dividend payment by an average of 8.7% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Starbucks has a payout ratio of 58.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Starbucks to earn $3.86 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 59.1%.

Starbucks Trading Up 0.4 %

SBUX stock traded up $0.37 during trading on Tuesday, reaching $96.82. 6,608,393 shares of the stock were exchanged, compared to its average volume of 11,344,309. Starbucks has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a market capitalization of $109.67 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The stock has a 50 day simple moving average of $95.31 and a 200-day simple moving average of $84.80.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks's quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 earnings per share. Equities analysts predict that Starbucks will post 3.55 EPS for the current year.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of recent analyst reports. TD Cowen reiterated a "buy" rating and set a $110.00 target price on shares of Starbucks in a research report on Thursday, September 12th. Piper Sandler upgraded shares of Starbucks from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Citigroup increased their price target on Starbucks from $98.00 to $99.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 8th. BTIG Research raised their price target on Starbucks from $100.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Finally, Baird R W raised Starbucks from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks currently has an average rating of "Moderate Buy" and a consensus target price of $102.40.

Insider Activity

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks 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 in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the business's stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company's stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

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.