Starbucks Corporation (SBUX) Announces Quarterly Dividend of $0.30
Starbucks Corporation (NASDAQ:SBUX) announced a quarterly dividend on Thursday, November 2nd, RTT News reports. Investors of record on Thursday, November 16th will be given a dividend of 0.30 per share by the coffee company on Friday, December 1st. This represents a $1.20 dividend on an annualized basis and a yield of 2.19%. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.55. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share.
In related news, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the transaction, the director now directly owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 18,000 shares of Starbucks Corporation stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average cost of $55.30 per share, with a total value of $995,400.00. Following the completion of the purchase, the director now owns 18,000 shares in the company, valued at approximately $995,400. The disclosure for this purchase can be found here. Company insiders own 3.40% of the company’s stock.
An institutional investor recently bought a new position in Starbucks Corporation stock. Verition Fund Management LLC acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 18,219 shares of the coffee company’s stock, valued at approximately $1,062,000. 70.87% of the stock is owned by institutional investors and hedge funds.
SBUX has been the topic of several research reports. OTR Global upgraded shares of Starbucks Corporation to a “positive” rating in a research report on Thursday, October 26th. Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Bank of America Corporation restated a “neutral” rating and issued a $65.00 price target on shares of Starbucks Corporation in a research report on Thursday, September 14th. Cowen and Company restated a “buy” rating and issued a $63.00 price target on shares of Starbucks Corporation in a research report on Friday, September 1st. Finally, Wedbush upgraded shares of Starbucks Corporation from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $57.00 to $60.00 in a research report on Friday, August 25th. Thirteen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $64.02.
About Starbucks Corporation
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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