Starbucks Co. (NASDAQ:SBUX - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $107.23 and last traded at $105.15, with a volume of 6902833 shares traded. The stock had previously closed at $100.41.
The coffee company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. During the same quarter in the previous year, the business posted $0.90 EPS.
Starbucks Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.24%. Starbucks's dividend payout ratio (DPR) is presently 78.71%.
Analyst Ratings Changes
Several equities research analysts have commented on the company. Bank of America dropped their target price on Starbucks from $118.00 to $117.00 and set a "buy" rating on the stock in a report on Tuesday, October 22nd. Citigroup raised their price objective on Starbucks from $96.00 to $99.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Wedbush raised their price objective on Starbucks from $95.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday. Morgan Stanley raised their price objective on Starbucks from $98.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Finally, 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. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $105.52.
Read Our Latest Analysis on Starbucks
Insider Buying and Selling
In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the 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 completion of the sale, the chief financial officer now owns 65,648 shares in the company, valued at $6,503,747.36. This represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of SBUX. Dakota Wealth Management grew its position in Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company's stock worth $5,439,000 after purchasing an additional 300 shares during the last quarter. Weil Company Inc. raised its stake in shares of Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company's stock worth $3,371,000 after acquiring an additional 8,222 shares during the last quarter. Maia Wealth LLC grew its position in shares of Starbucks by 69.1% during the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company's stock worth $1,805,000 after buying an additional 7,596 shares during the period. Aljian Capital Management LLC grew its position in shares of Starbucks by 48.5% during the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company's stock worth $2,966,000 after buying an additional 9,936 shares during the period. Finally, Investment Management Corp of Ontario grew its position in shares of Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company's stock worth $3,664,000 after buying an additional 12,300 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.
Starbucks Stock Performance
The firm's 50-day moving average price is $95.90 and its 200 day moving average price is $93.00. The company has a market cap of $123.82 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 2.91 and a beta of 0.99.
About Starbucks
(
Get Free Report)
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.
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