Analysts Anticipate Starbucks Corporation (NASDAQ:SBUX) Will Post Quarterly Sales of $5.79 Billion
Equities analysts expect Starbucks Corporation (NASDAQ:SBUX) to post sales of $5.79 billion for the current quarter, Zacks reports. Nine analysts have provided estimates for Starbucks Corporation’s earnings. The lowest sales estimate is $5.59 billion and the highest is $6.13 billion. Starbucks Corporation reported sales of $5.71 billion in the same quarter last year, which would suggest a positive year over year growth rate of 1.4%. The business is expected to report its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Starbucks Corporation will report full-year sales of $5.79 billion for the current financial year, with estimates ranging from $22.28 billion to $22.82 billion. For the next year, analysts anticipate that the business will report sales of $24.60 billion per share, with estimates ranging from $24.04 billion to $25.09 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Starbucks Corporation.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the previous year, the company earned $0.49 earnings per share. Starbucks Corporation’s quarterly revenue was up 8.1% compared to the same quarter last year.
Several research analysts have weighed in on SBUX shares. Vetr lowered shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $64.50 price objective for the company. in a report on Tuesday, April 18th. Sanford C. Bernstein reissued a “buy” rating and set a $67.00 price objective on shares of Starbucks Corporation in a report on Monday, June 12th. Cowen and Company reissued an “outperform” rating and set a $66.00 price objective on shares of Starbucks Corporation in a report on Friday, July 21st. UBS AG set a $70.00 price objective on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Wednesday, June 28th. Finally, Stephens reissued an “equal weight” rating and set a $58.00 price objective on shares of Starbucks Corporation in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $64.93.
In other news, Director Myron E. Ullman III sold 10,000 shares of Starbucks Corporation stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total value of $606,300.00. Following the transaction, the director now directly owns 24,000 shares of the company’s stock, valued at $1,455,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Clifford Burrows sold 114,826 shares of Starbucks Corporation stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total transaction of $6,827,553.96. Following the completion of 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. Insiders own 3.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Regent Investment Management LLC increased its position in Starbucks Corporation by 6.8% in the second quarter. Regent Investment Management LLC now owns 4,683 shares of the coffee company’s stock valued at $273,000 after buying an additional 300 shares during the period. Cape Cod Five Cents Savings Bank increased its position in Starbucks Corporation by 16.9% in the second quarter. Cape Cod Five Cents Savings Bank now owns 31,902 shares of the coffee company’s stock valued at $1,861,000 after buying an additional 4,616 shares during the period. Zevin Asset Management LLC increased its position in Starbucks Corporation by 1.0% in the first quarter. Zevin Asset Management LLC now owns 61,924 shares of the coffee company’s stock valued at $3,616,000 after buying an additional 625 shares during the period. Sawtooth Solutions LLC increased its position in Starbucks Corporation by 60.1% in the first quarter. Sawtooth Solutions LLC now owns 18,346 shares of the coffee company’s stock valued at $1,071,000 after buying an additional 6,884 shares during the period. Finally, Baystate Wealth Management LLC increased its position in Starbucks Corporation by 46.8% in the first quarter. Baystate Wealth Management LLC now owns 3,802 shares of the coffee company’s stock valued at $219,000 after buying an additional 1,212 shares during the period. 69.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of Starbucks Corporation (NASDAQ SBUX) traded up 0.34% during midday trading on Friday, reaching $53.25. 7,223,372 shares of the company were exchanged. The company has a market capitalization of $76.89 billion, a PE ratio of 26.88 and a beta of 0.80. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. The stock’s 50-day moving average price is $57.37 and its 200-day moving average price is $58.32.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. Starbucks Corporation’s dividend payout ratio is currently 50.76%.
About Starbucks Corporation
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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