Former CEO Laxman Narasimhan , who was appointed to head Starbucks Corporation in April 2023, was ousted due to strong dissatisfaction from the board of directors and across Starbucks management in August 2024 and replaced by Brian Niccol , who became the chain’s CEO on September 9, 2024. According to sources available to Wikipedia, Niccol received an annual starting salary of $1.6 million and a $10 million signing bonus. Brian Niccole was previously the CEO of Chipotle, which upon his appointment to lead the company on March 5, 2018, saw Chipotle Mexican Grill Inc. shares rise in value. CMG : NYSE surging a whopping 773%. Starbucks Corporation (NASDAQ- SBUX) also recently released its third quarter 2024 financial results. 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 2.32% 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 with a high estimate has been set at $100 per share.
