Starbucks Corporation (NASDAQ:SBUX – Get Free Report) announced a quarterly dividend on Wednesday, October 7th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.63 per share by the coffee company on Friday, November 27th. This represents a $2.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, November 13th. This is a 1.6% increase from Starbucks’s previous quarterly dividend of $0.62.
Starbucks has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Starbucks has a payout ratio of 82.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Starbucks to earn $3.15 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 78.7%.
Starbucks Stock Performance
Starbucks stock opened at $93.21 on Friday. Starbucks has a fifty-two week low of $77.99 and a fifty-two week high of $110.51. The company has a market capitalization of $106.26 billion, a price-to-earnings ratio of 53.57, a PEG ratio of 1.35 and a beta of 0.98. The stock has a fifty day moving average of $101.54 and a two-hundred day moving average of $100.98.
Insider Transactions at Starbucks
In other Starbucks news, CEO Brady Brewer sold 1,641 shares of Starbucks stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $94.76, for a total value of $155,501.16. Following the completion of the sale, the chief executive officer owned 71,508 shares in the company, valued at $6,776,098.08. The trade was a 2.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 6,099 shares of company stock valued at $627,135. 0.03% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Moody National Bank Trust Division boosted its position in shares of Starbucks by 3.4% in the third quarter. Moody National Bank Trust Division now owns 23,341 shares of the coffee company’s stock worth $2,193,000 after acquiring an additional 771 shares during the last quarter. QRG Capital Management Inc. increased its position in Starbucks by 10.5% during the second quarter. QRG Capital Management Inc. now owns 159,617 shares of the coffee company’s stock worth $16,311,000 after purchasing an additional 15,211 shares during the last quarter. State Street Corp raised its stake in Starbucks by 3.2% during the second quarter. State Street Corp now owns 49,260,268 shares of the coffee company’s stock worth $5,033,907,000 after purchasing an additional 1,530,497 shares during the period. Smith Chas P & Associates PA Cpas purchased a new position in Starbucks during the second quarter worth approximately $204,000. Finally, Marathon Wealth Advisors LLC boosted its holdings in shares of Starbucks by 1.9% in the 2nd quarter. Marathon Wealth Advisors LLC now owns 13,128 shares of the coffee company’s stock valued at $1,342,000 after purchasing an additional 246 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.
About Starbucks
Starbucks Corporation is a global specialty coffee company that operates coffeehouses and sells coffee, tea and other beverages, along with food products and merchandise. Its menu includes brewed coffee, espresso-based drinks, cold beverages, teas, bakery items and ready-to-eat food. Starbucks also markets packaged coffee, ready-to-drink beverages and related products through retail and grocery channels, often through licensing and other business partnerships.
Founded in Seattle in 1971, Starbucks expanded from a local coffee retailer into an international brand.
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