Brokerages Expect Starbucks Co. (SBUX) Will Post Quarterly Sales of $6.31 Billion

Analysts expect that Starbucks Co. (NASDAQ:SBUX) will post $6.31 billion in sales for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for Starbucks’ earnings, with the highest sales estimate coming in at $6.51 billion and the lowest estimate coming in at $6.21 billion. Starbucks reported sales of $6.03 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4.6%. The business is scheduled to issue its next earnings results after the market closes on Thursday, April 25th.

According to Zacks, analysts expect that Starbucks will report full year sales of $26.28 billion for the current year, with estimates ranging from $26.02 billion to $26.77 billion. For the next year, analysts anticipate that the business will report sales of $28.29 billion, with estimates ranging from $28.00 billion to $28.67 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Starbucks.

Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, January 24th. The coffee company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.10. Starbucks had a return on equity of 193.00% and a net margin of 11.98%. The company had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $6.49 billion. During the same quarter last year, the business posted $0.65 EPS. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year.

Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Monday, January 28th. BidaskClub lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 12th. BMO Capital Markets upped their target price on shares of Starbucks to $63.00 and gave the stock a “market perform” rating in a report on Friday, December 14th. They noted that the move was a valuation call. UBS Group downgraded shares of Starbucks from a “buy” rating to a “neutral” rating and upped their price target for the stock from $72.00 to $78.00 in a research report on Monday. Finally, Wells Fargo & Co reiterated an “outperform” rating and set a $73.00 price target (up previously from $66.00) on shares of Starbucks in a research report on Friday, December 14th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Starbucks currently has an average rating of “Buy” and an average target price of $67.89.

In related news, insider Clifford Burrows sold 152,634 shares of the stock in a transaction that occurred on Tuesday, January 29th. The shares were sold at an average price of $67.22, for a total value of $10,260,057.48. Following the sale, the insider now directly owns 311,083 shares in the company, valued at approximately $20,910,999.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Culver sold 169,096 shares of the stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $68.81, for a total transaction of $11,635,495.76. The disclosure for this sale can be found here. Insiders sold a total of 565,806 shares of company stock worth $38,789,988 over the last quarter. 3.98% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Lake Point Wealth Management purchased a new position in shares of Starbucks in the 4th quarter valued at approximately $25,000. Highwater Wealth Management LLC bought a new stake in Starbucks during the fourth quarter valued at about $28,000. Veritas Investment Management LLP bought a new stake in Starbucks during the fourth quarter valued at about $28,000. Mark Sheptoff Financial Planning LLC bought a new stake in Starbucks during the fourth quarter valued at about $32,000. Finally, Clean Yield Group bought a new stake in Starbucks during the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 73.36% of the company’s stock.

SBUX traded up $0.79 on Friday, reaching $76.66. The company had a trading volume of 596,862 shares, compared to its average volume of 7,313,115. Starbucks has a 1 year low of $47.37 and a 1 year high of $76.07. The stock has a market cap of $93.87 billion, a PE ratio of 31.67, a price-to-earnings-growth ratio of 2.16 and a beta of 0.51. The company has a debt-to-equity ratio of 7.73, a current ratio of 1.41 and a quick ratio of 1.16.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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