Starbucks Corporation (NASDAQ:SBUX) – Equities researchers at Wedbush lowered their FY2017 earnings per share (EPS) estimates for Starbucks Corporation in a research report issued on Friday. Wedbush analyst N. Setyan now expects that the coffee company will post earnings per share of $2.06 for the year, down from their prior forecast of $2.11. Wedbush has a “Hold” rating on the stock. Wedbush also issued estimates for Starbucks Corporation’s Q4 2017 earnings at $0.55 EPS, Q1 2018 earnings at $0.58 EPS, Q2 2018 earnings at $0.53 EPS, Q4 2018 earnings at $0.64 EPS and FY2018 earnings at $2.35 EPS.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 53.01%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 earnings per share. WARNING: This report was first posted by Community Financial News and is owned by of Community Financial News. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international copyright and trademark law. The original version of this report can be accessed at https://www.com-unik.info/2017/08/19/wedbush-research-analysts-lower-earnings-estimates-for-starbucks-corporation-nasdaqsbux-updated-updated.html.
Shares of Starbucks Corporation (SBUX) opened at 53.98 on Monday. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The stock’s 50 day moving average is $58.66 and its 200-day moving average is $58.51. The stock has a market cap of $78.17 billion, a price-to-earnings ratio of 27.25 and a beta of 0.82.
Several hedge funds have recently made changes to their positions in the company. State Street Corp boosted its position 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 position 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 position 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 position 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, Norges Bank purchased a new position in Starbucks Corporation during the fourth quarter valued at about $680,375,000. Institutional investors own 69.59% of the company’s stock.
In other news, Director Myron E. Ullman III sold 20,000 shares of the 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 sale, the director now owns 34,000 shares in the company, valued at $2,054,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clifford Burrows sold 114,826 shares of the 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 sale, the insider now owns 363,343 shares in the company, valued at approximately $21,604,374.78. The disclosure for this sale can be found here. Insiders have sold 144,826 shares of company stock worth $8,642,454 in the last 90 days. Company insiders own 3.40% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders 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 1.85%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s payout ratio is presently 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.
What are top analysts saying about Starbucks Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Starbucks Corporation and related companies.