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 annualized dividend and a dividend yield of 2.13%. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the company earned $0.56 EPS. The company’s quarterly revenue was down .2% on a year-over-year basis.
In related news, Director Myron E. Ullman III sold 22,966 shares of Starbucks Corporation stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the completion of the sale, the director now directly owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Culver sold 64,776 shares of Starbucks Corporation stock in a transaction on Friday, September 8th. The stock was sold at an average price of $53.54, for a total value of $3,468,107.04. Following the sale, the insider now directly owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.
An institutional investor recently bought a new position in Starbucks Corporation stock. Verition Fund Management LLC bought a new position in shares of Starbucks Corporation (NASDAQ:SBUX) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 18,219 shares of the coffee company’s stock, valued at approximately $1,062,000. Institutional investors and hedge funds own 70.87% of the company’s stock.
A number of analysts have commented on SBUX shares. Cowen and Company reiterated a “buy” rating and issued a $63.00 price objective on shares of Starbucks Corporation in a research report on Friday, September 1st. Mizuho set a $75.00 price objective on Starbucks Corporation and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research upgraded Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. UBS AG set a $67.00 price objective on Starbucks Corporation and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, Jefferies Group LLC reiterated an “average” rating and issued a $65.00 price objective on shares of Starbucks Corporation in a research report on Friday, July 28th. Thirteen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $64.02.
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Starbucks Corporation Company Profile
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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