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Starbucks Corp. Market Update

8/23/2022 3:11 PM

The stocks of one of the world's largest coffee companies, Starbucks Corp., are trading in a corrective trend, being around the 85.00 mark.

The trading instrument continues moderate growth after the publication of a positive report for Q3. Thus, earnings per share amounted to 0.84 dollars, which exceeded the consensus estimate of 0.77 dollars. The company's revenue grew by more than 7.0%, amounting to 8.2B dollars, and global comparable sales – by 3.0%, due to an increase in the average check by 6.0%. Net revenue in North America increased by 13.0%, and comparable store sales in the region increased by 9.0%. Revenue in the international segment decreased by 6.0%, and international comparable sales fell by 18.0% largely due to coronavirus restrictions in China, which is the largest overseas market for Starbucks Corp.

As for dividends, the next payment is scheduled for August 26, when investors will receive 0.49 dollars per share, which corresponds to a yield of 2.27% per annum.   


The quotes of the asset continue to trade in a local corrective trend in an attempt to consolidate above the level of the basic 38.2% Fibonacci retracement.

Technical indicators hold the buy signal: the range of EMA fluctuations on the alligator indicator is directed towards growth, and on the AO oscillator, the histogram forms new descending bars, being in the buy zone.           

Support levels: 81.60, 76.16. | Resistance levels: 88.50, 94.00.



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