Starbucks Corporation (SBUX) Expected to Announce Quarterly Sales of $6.16 Billion
Wall Street brokerages forecast that Starbucks Corporation (NASDAQ:SBUX) will post $6.16 billion in sales for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for Starbucks’ earnings. The lowest sales estimate is $5.97 billion and the highest is $6.22 billion. Starbucks posted sales of $5.73 billion during the same quarter last year, which suggests a positive year over year growth rate of 7.5%. The firm is scheduled to issue its next earnings results on Thursday, January 25th.
According to Zacks, analysts expect that Starbucks will report full-year sales of $6.16 billion for the current year, with estimates ranging from $23.93 billion to $25.05 billion. For the next financial year, analysts anticipate that the firm will report sales of $26.58 billion per share, with estimates ranging from $25.97 billion to $27.39 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Starbucks.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 EPS.
SBUX has been the subject of several research analyst reports. Vetr raised shares of Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 target price for the company in a research report on Tuesday, November 14th. Nomura decreased their price target on shares of Starbucks from $67.00 to $63.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Mizuho reaffirmed a “buy” rating and issued a $75.00 price target on shares of Starbucks in a report on Friday, September 29th. Credit Suisse Group reaffirmed a “buy” rating on shares of Starbucks in a report on Monday, November 6th. Finally, Zacks Investment Research raised shares of Starbucks from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Starbucks has an average rating of “Buy” and an average target price of $63.26.
In other news, Director Craig Weatherup sold 56,666 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $56.73, for a total value of $3,214,662.18. Following the completion of the sale, the director now directly owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Howard D. Schultz sold 290,176 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the completion of the sale, the insider now directly owns 29,872,564 shares of the company’s stock, valued at $1,703,632,324.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 525,550 shares of company stock valued at $29,688,442. Company insiders own 3.40% of the company’s stock.
Several large investors have recently modified their holdings of SBUX. Magellan Asset Management Ltd raised its holdings in shares of Starbucks by 3,809,645.9% in the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock worth $1,090,000,000 after purchasing an additional 18,667,265 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Starbucks by 3,076.5% in the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock worth $809,917,000 after purchasing an additional 13,452,551 shares in the last quarter. Parnassus Investments CA bought a new stake in shares of Starbucks in the 3rd quarter worth approximately $498,863,000. Capital International Investors raised its holdings in shares of Starbucks by 28.3% in the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after purchasing an additional 4,696,452 shares in the last quarter. Finally, Harding Loevner LP bought a new stake in shares of Starbucks in the 3rd quarter worth approximately $128,044,000. 71.16% of the stock is owned by institutional investors.
Starbucks (SBUX) traded down $0.50 on Friday, hitting $57.32. 12,762,015 shares of the stock traded hands, compared to its average volume of 9,560,161. The company has a market cap of $82,266.30, a P/E ratio of 27.93, a P/E/G ratio of 1.58 and a beta of 0.75. Starbucks has a one year low of $52.58 and a one year high of $64.87. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 16th were paid a $0.30 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Wednesday, November 15th. Starbucks’s dividend payout ratio is currently 60.91%.
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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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