Starbucks maintains composure within $98.33 to $99.61 range

Published: May 27 2023, 07:51 GMT+0

Starbucks maintains composure within $98.33 to $99.61 range

A quick look at yesterday: after closing at $98.44 on Thursday, Starbucks rallied as high as $99.61 but ended the day at $98.53.

  • Daily trading volume (7.27 million shares) was slightly greater than the current multiday average of 6.62 million.
  • Starbucks discloses 53 cents per share dividend to be paid on Friday, May 26th

The opening bell in 3 days time follows yesterday's session in which Nasdaq increased to 12,976, which is a 2.19% change. S&P 500 went up to 4,205.45, making a 1.3% change. Starbucks was flat yesterday, while the Consumer Cyclical sector was up 0.255%.

The famous coffee brand reached a significant high of $114.56 around 26 days ago but has lost 14.07% since then. So far this year, it has been doing worse than the Nasdaq by 22.5%. The company has a market cap of $112.95 billion with an average daily volume of 6.62 million shares. Starbucks expected revenue of $8.40 billion with an EPS of 74 cents.

Starbucks disclosed a quarterly dividend of 53 cents per share on Wednesday, March 22nd that was paid on Friday, May 26th to all shareholders of record up until Friday, May 12th. Based on current prices, the company's decision thereby provides Starbucks investors with an annual dividend yield of 2.15%.

Meanwhile, mixed performances were seen by other consumer discretionary stocks as Amazon gained 4.44%, as it traded at $120.11. Tesla added 4.72% to its value, and traded at $193.17. Lowe's traded at $206.52 after closing yesterday's trading day at $201.04 (up 2.73%).