Zacks: Brokerages Expect Starbucks Co. (NASDAQ:SBUX) Will Post Quarterly Sales of $7.98 Billion

Equities analysts expect that Starbucks Co. (NASDAQ:SBUX) will post $7.98 billion in sales for the current quarter, Zacks reports. Nine analysts have made estimates for Starbucks’ earnings. The highest sales estimate is $8.12 billion and the lowest is $7.87 billion. Starbucks reported sales of $6.75 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 18.2%. The firm is expected to issue its next earnings report on Tuesday, January 25th.

According to Zacks, analysts expect that Starbucks will report full year sales of $32.68 billion for the current year, with estimates ranging from $32.50 billion to $33.00 billion. For the next fiscal year, analysts expect that the company will post sales of $35.67 billion, with estimates ranging from $35.19 billion to $36.27 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Starbucks.

Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, October 28th. The coffee company reported $1.00 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.00. The business had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $8.22 billion. Starbucks had a net margin of 14.45% and a negative return on equity of 55.34%. The company’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 EPS.

A number of equities analysts recently issued reports on SBUX shares. Wells Fargo & Company cut their target price on Starbucks from $135.00 to $122.00 and set an “overweight” rating on the stock in a report on Friday, October 29th. Wedbush lowered their price target on Starbucks from $132.00 to $128.00 and set an “outperform” rating for the company in a research report on Friday, October 29th. Atlantic Securities lowered Starbucks from an “overweight” rating to a “neutral” rating and set a $105.00 price target for the company. in a research report on Thursday, September 30th. Stifel Nicolaus lowered Starbucks from a “buy” rating to a “hold” rating and decreased their target price for the company from $130.00 to $112.00 in a research report on Friday, October 29th. Finally, Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a research report on Monday, October 11th. Twelve research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Starbucks currently has an average rating of “Buy” and an average target price of $123.57.

In related news, CEO Kevin R. Johnson sold 250,000 shares of the stock in a transaction dated Wednesday, December 8th. The stock was sold at an average price of $116.09, for a total transaction of $29,022,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Angela Lis sold 6,000 shares of the stock in a transaction that occurred on Friday, December 10th. The shares were sold at an average price of $116.88, for a total value of $701,280.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 307,118 shares of company stock valued at $35,431,134. 0.36% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Trust Co. of Vermont lifted its position in Starbucks by 0.5% during the 3rd quarter. Trust Co. of Vermont now owns 111,058 shares of the coffee company’s stock worth $12,251,000 after acquiring an additional 583 shares during the period. Bank of New York Mellon Corp grew its position in shares of Starbucks by 7.9% in the second quarter. Bank of New York Mellon Corp now owns 10,393,980 shares of the coffee company’s stock valued at $1,162,152,000 after purchasing an additional 757,995 shares in the last quarter. Aptus Capital Advisors LLC grew its position in shares of Starbucks by 21.0% in the third quarter. Aptus Capital Advisors LLC now owns 45,587 shares of the coffee company’s stock valued at $5,029,000 after purchasing an additional 7,913 shares in the last quarter. Lyell Wealth Management LP grew its position in shares of Starbucks by 7.0% in the third quarter. Lyell Wealth Management LP now owns 63,364 shares of the coffee company’s stock valued at $6,990,000 after purchasing an additional 4,172 shares in the last quarter. Finally, Liberty Wealth Management LLC lifted its holdings in Starbucks by 11,217.0% in the second quarter. Liberty Wealth Management LLC now owns 600,819 shares of the coffee company’s stock valued at $5,374,000 after acquiring an additional 595,510 shares during the last quarter. Hedge funds and other institutional investors own 68.26% of the company’s stock.

Shares of Starbucks stock traded down $2.28 on Friday, reaching $100.12. 13,701,199 shares of the company’s stock were exchanged, compared to its average volume of 9,677,548. The company has a market capitalization of $117.46 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 1.52 and a beta of 0.83. Starbucks has a 52 week low of $95.92 and a 52 week high of $126.32. The firm’s 50-day moving average is $111.95 and its two-hundred day moving average is $114.36.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 25th. Investors of record on Friday, February 11th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Thursday, February 10th. Starbucks’s dividend payout ratio (DPR) is presently 55.21%.

Starbucks Company Profile

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America; International; and Channel Development. The North America and International segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

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Earnings History and Estimates for Starbucks (NASDAQ:SBUX)

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