Starbucks (NASDAQ:SBUX) Posts Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Starbucks (NASDAQ:SBUX) posted its quarterly earnings data on Tuesday. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.13), Briefing.com reports. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter last year, the business earned $0.74 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis.

Starbucks Stock Up 0.2 %

SBUX stock opened at $88.49 on Wednesday. The company has a 50 day moving average of $90.17 and a two-hundred day moving average of $94.25. Starbucks has a 12-month low of $84.29 and a 12-month high of $115.48. The company has a market cap of $100.19 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 1.49 and a beta of 0.97.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.58%. Starbucks’s payout ratio is 60.96%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. BMO Capital Markets cut their target price on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st. William Blair lowered shares of Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Stifel Nicolaus cut their target price on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. cut their target price on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, March 19th. Sixteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $105.23.

Insider Transactions at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 7,250 shares of company stock worth $651,738 in the last 90 days. 1.98% of the stock is owned by insiders.

Starbucks Company Profile

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.