Starbucks Co. (NASDAQ:SBUX – Get Free Report) hit a new 52-week high on Wednesday following a better than expected earnings announcement. The company 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 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same period in the prior year, the firm earned $0.90 EPS.
Starbucks Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.24%. Starbucks’s payout ratio is 78.71%.
Analysts Set New Price Targets
Get Our Latest Research Report on Starbucks
Insider Buying and Selling at Starbucks
In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.98% of the company’s stock.
Hedge Funds Weigh In On Starbucks
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Life Planners bought a new stake in shares of Starbucks during the 4th quarter valued at about $25,000. Collier Financial bought a new position in shares of Starbucks during the 4th quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $25,000. DT Investment Partners LLC increased its stake in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Starbucks during the 3rd quarter valued at $49,000. Institutional investors and hedge funds own 72.29% of the company’s stock.
Starbucks Trading Up 0.4 %
The company has a market cap of $123.82 billion, a price-to-earnings ratio of 32.93, a P/E/G ratio of 2.91 and a beta of 0.99. The stock’s 50-day moving average is $95.90 and its 200-day moving average is $93.00.
About Starbucks
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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