Starbucks Co. (NASDAQ:SBUX) – Jefferies Group decreased their Q3 2018 earnings estimates for Starbucks in a research note issued to investors on Friday. Jefferies Group analyst A. Barish now anticipates that the coffee company will earn $0.62 per share for the quarter, down from their previous forecast of $0.63. Jefferies Group also issued estimates for Starbucks’ Q4 2018 earnings at $0.60 EPS and FY2018 earnings at $2.27 EPS.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the firm posted $0.56 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis.
Shares of Starbucks (NASDAQ:SBUX) traded up $0.13 during trading on Monday, hitting $57.27. 4,810,000 shares of the stock were exchanged, compared to its average volume of 8,800,000. Starbucks has a 52-week low of $52.58 and a 52-week high of $64.87. The stock has a market capitalization of $81,480.00, a P/E ratio of 29.07, a price-to-earnings-growth ratio of 1.57 and a beta of 0.76. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were given a dividend of $0.30 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Wednesday, November 15th. Starbucks’s dividend payout ratio (DPR) is presently 60.91%.
In other Starbucks news, Director Joshua Cooper Ramo sold 60,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $59.43, for a total transaction of $3,565,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Javier G. Teruel sold 62,966 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total transaction of $3,627,471.26. The disclosure for this sale can be found here. Insiders have sold 497,808 shares of company stock worth $28,559,521 over the last quarter. Company insiders own 3.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Union Bankshares Corp boosted its stake in shares of Starbucks by 0.4% during the second quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock valued at $204,000 after purchasing an additional 14 shares during the period. Ken Stern & Associates Inc. lifted its stake in Starbucks by 0.4% in the second quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock worth $330,000 after acquiring an additional 23 shares during the period. Vaughan David Investments Inc. IL lifted its stake in Starbucks by 0.6% in the first quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock worth $271,000 after acquiring an additional 26 shares during the period. Spectrum Management Group Inc. lifted its stake in Starbucks by 0.3% in the second quarter. Spectrum Management Group Inc. now owns 10,630 shares of the coffee company’s stock worth $620,000 after acquiring an additional 30 shares during the period. Finally, Heritage Investors Management Corp lifted its stake in Starbucks by 0.8% in the second quarter. Heritage Investors Management Corp now owns 4,963 shares of the coffee company’s stock worth $289,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 70.67% of the company’s stock.
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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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