Starbucks Corporation (NASDAQ- SBUX) is looking for a new global brand chief for North America as the CEO for North America retires. Starbucks Corp. is positioning itself as a fast-food brand leader with new CEO Brian Niccol, who is looking to revitalize fast-food outlets and restore the cozy atmosphere of Starbucks coffee shops. Niccolo’s main and first task and move after his election as CEO last week is to create a new position that will oversee product, marketing, digital, customer insights, creative and concepts for Starbucks stores.
Starbucks Corporation (NASDAQ- SBUX) also recently released its financial results for the third quarter of 2024. The company generated total sales of $9.114 billion with a slight year-over-year decline of 0.6%. Operating profit was $1.518 billion. After deducting all expenses, the company earned USD 1.055 billion.
Starbucks Corporation (NASDAQ- SBUX) also pays regular quarterly dividends to its shareholders. Currently, the dividend yield is 2.36% per annum and the actual dividend amount has been approved by the company’s board of directors at $0.57 per share. According to analysts at brokerage firms and financial strategists at investment banks, the share price of (NASDAQ- SBUX) can be expected to rise in the short to medium term investment horizon. The average target price for the stock has been set at $99.50 per share.
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