Equities research analysts forecast that Starbucks Corporation (NASDAQ:SBUX) will announce $0.55 earnings per share for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for Starbucks Corporation’s earnings. The lowest EPS estimate is $0.54 and the highest is $0.59. Starbucks Corporation reported earnings of $0.56 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 1.8%. The company is expected to report its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Starbucks Corporation will report full year earnings of $2.07 per share for the current financial year, with EPS estimates ranging from $2.05 to $2.12. For the next year, analysts expect that the firm will report earnings of $2.35 per share, with EPS estimates ranging from $2.23 to $2.44. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Starbucks Corporation.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS.
A number of research firms have recently issued reports on SBUX. UBS AG set a $70.00 price target on shares of Starbucks Corporation and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Stifel Nicolaus upgraded shares of Starbucks Corporation to a “buy” rating in a research report on Saturday, May 13th. Wedbush restated a “hold” rating on shares of Starbucks Corporation in a research report on Friday, July 28th. Guggenheim downgraded shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $64.00 price target (down from $67.00) on shares of Starbucks Corporation in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-two have issued a buy rating and three have given a strong buy rating to the company. Starbucks Corporation has an average rating of “Buy” and a consensus price target of $64.93.
In related news, Director Myron E. Ullman III sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total transaction of $606,300.00. Following the completion of the sale, the director now directly owns 24,000 shares in the company, valued at $1,455,120. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Clifford Burrows sold 114,826 shares of the firm’s 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 sale, the insider now owns 363,343 shares of the company’s stock, valued at $21,604,374.78. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. State Street Corp boosted its stake in Starbucks Corporation 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in Starbucks Corporation 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 in the last quarter. Magellan Asset Management Ltd boosted its stake in Starbucks Corporation by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after buying an additional 18,667,265 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after buying an additional 3,511,080 shares in the last quarter. Finally, Polen Capital Management LLC boosted its stake in Starbucks Corporation by 7.6% in the first quarter. Polen Capital Management LLC now owns 10,464,718 shares of the coffee company’s stock valued at $611,035,000 after buying an additional 737,343 shares in the last quarter. Institutional investors and hedge funds own 69.85% of the company’s stock.
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Shares of Starbucks Corporation (NASDAQ:SBUX) opened at 54.52 on Wednesday. The stock’s 50 day moving average is $58.05 and its 200 day moving average is $58.43. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. The stock has a market capitalization of $78.72 billion, a PE ratio of 27.52 and a beta of 0.80.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Tuesday, August 8th. 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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