Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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. The company also licenses its trademarks through licensed stores, and grocery and foodservice accounts. The company offers its products under the Starbucks, Teavana, Seattle's Best Coffee, Evolution Fresh, Ethos, Starbucks Reserve, and Princi brands. As of October 3, 2021, it operated 16,826 company-operated and licensed stores in North America; and 17,007 company-operated and licensed stores internationally. The company was founded in 1971 and is based in Seattle, Washington.
Starbucks Stock Down 1.3 %
Starbucks stock traded down $1.15 during trading on Friday, reaching $85.73. The stock had a trading volume of 4,835,081 shares, compared to its average volume of 6,349,723. Starbucks has a 52-week low of $68.39 and a 52-week high of $120.76. The business has a 50 day moving average price of $78.88 and a 200 day moving average price of $83.04. The stock has a market cap of $98.37 billion, a PE ratio of 24.15, a P/E/G ratio of 2.67 and a beta of 0.95.
Starbucks (NASDAQ:SBUX - Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same quarter in the previous year, the company earned $1.01 EPS. On average, equities analysts predict that Starbucks will post 2.89 EPS for the current fiscal year.
Starbucks Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be issued a dividend of $0.49 per share. The ex-dividend date is Thursday, August 11th. This represents a $1.96 dividend on an annualized basis and a yield of 2.29%. Starbucks's payout ratio is currently 55.21%.
Analyst Ratings Changes
Several equities research analysts recently issued reports on SBUX shares. TheStreet cut shares of Starbucks from a "b-" rating to a "c+" rating in a research report on Friday, April 22nd. StockNews.com cut shares of Starbucks from a "buy" rating to a "hold" rating in a research report on Thursday, May 12th. Barclays lifted their price target on shares of Starbucks from $94.00 to $96.00 and gave the company an "overweight" rating in a research report on Wednesday. Robert W. Baird reiterated a "neutral" rating and set a $83.00 price target on shares of Starbucks in a research report on Thursday. Finally, Morgan Stanley lifted their price target on shares of Starbucks from $87.00 to $88.00 and gave the company an "equal weight" rating in a research report on Monday, July 18th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $102.92.
Insiders Place Their Bets
In related news, CEO Howard D. Schultz acquired 137,500 shares of the business's stock in a transaction on Tuesday, May 10th. The shares were bought at an average price of $72.67 per share, with a total value of $9,992,125.00. Following the completion of the acquisition, the chief executive officer now owns 19,534,460 shares in the company, valued at $1,419,569,208.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Starbucks news, CEO Howard D. Schultz bought 137,500 shares of the business's stock in a transaction dated Tuesday, May 10th. The shares were acquired at an average cost of $72.67 per share, with a total value of $9,992,125.00. Following the acquisition, the chief executive officer now directly owns 19,534,460 shares of the company's stock, valued at approximately $1,419,569,208.20. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Howard D. Schultz bought 72,500 shares of the business's stock in a transaction dated Thursday, May 12th. The stock was acquired at an average cost of $68.85 per share, for a total transaction of $4,991,625.00. Following the completion of the acquisition, the chief executive officer now directly owns 19,606,960 shares in the company, valued at $1,349,939,196. The disclosure for this purchase can be found here. 0.27% of the stock is owned by corporate insiders.
