Equities research analysts expect Starbucks Co. (NASDAQ:SBUX) to report $5.75 billion in sales for the current quarter, Zacks reports. Nine analysts have issued estimates for Starbucks’ earnings. The highest sales estimate is $5.92 billion and the lowest is $5.65 billion. Starbucks reported sales of $5.24 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.7%. The company is scheduled to announce its next quarterly earnings results after the market closes on Thursday, July 27th.
On average, analysts expect that Starbucks will report full-year sales of $5.75 billion for the current year, with estimates ranging from $22.48 billion to $22.94 billion. For the next financial year, analysts forecast that the company will post sales of $24.82 billion per share, with estimates ranging from $24.19 billion to $25.30 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Starbucks.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, April 27th. The coffee company reported $0.45 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.45. Starbucks had a return on equity of 51.45% and a net margin of 13.30%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter last year, the firm posted $0.39 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year.
Several research analysts recently commented on SBUX shares. Argus lowered Starbucks from a “buy” rating to a “hold” rating and lifted their price target for the stock from $55.50 to $55.81 in a research report on Friday, February 10th. They noted that the move was a valuation call. Vetr lowered Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.62 target price for the company. in a research report on Monday, February 13th. Robert W. Baird restated an “outperform” rating on shares of Starbucks in a research report on Thursday, February 16th. Credit Suisse Group AG restated a “neutral” rating on shares of Starbucks in a research report on Friday, March 10th. Finally, Wedbush restated an “outperform” rating and set a $65.00 target price on shares of Starbucks in a research report on Monday, March 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $64.71.
In other news, Director Myron E. Ullman III sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $60.43, for a total transaction of $1,208,600.00. Following the transaction, the director now directly owns 34,000 shares of the company’s stock, valued at $2,054,620. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Clifford Burrows sold 114,826 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total value of $6,827,553.96. Following the transaction, the insider now directly owns 363,343 shares in the company, valued at $21,604,374.78. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Starbucks by 3.3% in the first quarter. Vanguard Group Inc. now owns 92,464,610 shares of the coffee company’s stock valued at $5,399,009,000 after buying an additional 2,950,998 shares during the last quarter. BlackRock Inc. increased its position in Starbucks by 2,743.4% in the first quarter. BlackRock Inc. now owns 85,255,361 shares of the coffee company’s stock valued at $4,978,059,000 after buying an additional 82,256,964 shares during the last quarter. State Street Corp increased its position in Starbucks by 2.7% in the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after buying an additional 1,598,669 shares during the last quarter. Capital World Investors increased its position in Starbucks by 30.3% in the third quarter. Capital World Investors now owns 34,697,636 shares of the coffee company’s stock valued at $1,878,530,000 after buying an additional 8,071,610 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Starbucks by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock valued at $1,796,675,000 after buying an additional 2,234,324 shares during the last quarter. 68.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of Starbucks (SBUX) traded up 0.11% during midday trading on Thursday, reaching $63.68. The company’s stock had a trading volume of 873,225 shares. Starbucks has a 52-week low of $50.84 and a 52-week high of $63.78. The stock has a 50-day moving average price of $60.61 and a 200-day moving average price of $57.83. The stock has a market cap of $92.21 billion, a price-to-earnings ratio of 31.49 and a beta of 0.79.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Thursday, May 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Tuesday, May 9th. Starbucks’s payout ratio is presently 51.28%.
Starbucks Company Profile
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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