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

Starbucks Co. (NASDAQ:SBUX - Get Free Report) declared a quarterly dividend on Wednesday, April 2nd, RTT News reports. Shareholders of record on Friday, May 16th will be paid a dividend of 0.61 per share by the coffee company on Friday, May 30th. This represents a $2.44 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Friday, May 16th.

Starbucks has increased its dividend payment by an average of 8.0% annually over the last three years and has increased its dividend every year for the last 15 years. Starbucks has a payout ratio of 67.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Starbucks to earn $3.66 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 66.7%.

Starbucks Trading Down 2.6 %

Shares of NASDAQ SBUX traded down $2.10 during trading hours on Monday, reaching $80.00. The stock had a trading volume of 26,093,774 shares, compared to its average volume of 11,287,300. Starbucks has a 52-week low of $71.55 and a 52-week high of $117.46. The firm has a market cap of $90.87 billion, a price-to-earnings ratio of 25.81, a P/E/G ratio of 3.59 and a beta of 1.00. The business's fifty day moving average price is $105.32 and its two-hundred day moving average price is $99.41.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same quarter in the prior year, the business posted $0.90 EPS. Equities research analysts anticipate that Starbucks will post 2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SBUX. Royal Bank of Canada reiterated an "outperform" rating and set a $115.00 price objective on shares of Starbucks in a research note on Friday, January 24th. Robert W. Baird reaffirmed a "neutral" rating and set a $85.00 target price (down previously from $114.00) on shares of Starbucks in a research report on Monday. Stifel Nicolaus boosted their price target on Starbucks from $110.00 to $114.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Barclays raised their price objective on Starbucks from $119.00 to $124.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Finally, UBS Group boosted their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a "neutral" rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $105.12.

Hedge Funds Weigh In On Starbucks

A hedge fund recently raised its stake in Starbucks stock. Brighton Jones LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 86.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,722 shares of the coffee company's stock after acquiring an additional 81,952 shares during the quarter. Brighton Jones LLC's holdings in Starbucks were worth $16,126,000 as of its most recent SEC filing. Institutional investors and hedge funds own 72.29% 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.