Starbucks Corporation (NASDAQ:SBUX) - Equities researchers at Wedbush reduced their FY2017 earnings per share estimates for Starbucks Corporation in a note issued to investors on Friday. Wedbush analyst N. Setyan now anticipates that the coffee company will earn $2.06 per share for the year, down from their previous forecast of $2.11. Wedbush currently 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.
Other equities research analysts have also recently issued research reports about the company. Royal Bank Of Canada restated an “outperform” rating and set a $66.00 target price on shares of Starbucks Corporation in a research note on Tuesday, April 18th. Jefferies Group LLC restated a “buy” rating and set a $65.00 target price on shares of Starbucks Corporation in a research note on Friday, May 12th. UBS AG set a $67.00 target price on Starbucks Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research cut Starbucks Corporation from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Finally, Deutsche Bank AG restated a “hold” rating and set a $59.00 target price on shares of Starbucks Corporation in a research note on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-two have issued a buy rating and three have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $64.93.
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Starbucks Corporation (NASDAQ:SBUX) traded up 0.58% during mid-day trading on Monday, reaching $55.05. 5,220,922 shares of the company were exchanged. The stock has a market capitalization of $79.72 billion, a price-to-earnings ratio of 27.79 and a beta of 0.81. 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 price is $58.47 and its 200-day moving average price is $58.49.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 53.01%. The company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same period in the prior year, the firm earned $0.49 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year.
A number of hedge funds have recently bought and sold shares of the stock. State Street Corp raised 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 during the period. Bank of New York Mellon Corp raised 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 during the period. Magellan Asset Management Ltd raised 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 during the period. Ameriprise Financial Inc. raised 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 during the period. Finally, Norges Bank purchased a new stake in Starbucks Corporation during the fourth quarter valued at $680,375,000. 69.59% of the stock is currently owned by institutional investors.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total value of $606,300.00. Following the sale, the director now owns 24,000 shares of the company’s stock, valued at $1,455,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clifford Burrows sold 114,826 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $59.46, for a total value of $6,827,553.96. Following the completion of the sale, the insider now directly owns 363,343 shares in the company, valued at approximately $21,604,374.78. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.83%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is 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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