Credit Agricole SA Comments on Starbucks Corp.’s FY2016 Earnings (SBUX)
Starbucks Corp. (NASDAQ:SBUX) – Investment analysts at Credit Agricole SA reduced their FY2016 earnings per share (EPS) estimates for shares of Starbucks Corp. in a report released on Tuesday. Credit Agricole SA analyst J. Scott now forecasts that the firm will earn $1.89 per share for the year, down from their previous forecast of $1.90. Credit Agricole SA has a “Buy” rating and a $68.00 price objective on the stock. Credit Agricole SA also issued estimates for Starbucks Corp.’s FY2017 earnings at $2.21 EPS.
Starbucks Corp. (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.34 billion. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%.
A number of other equities analysts have also weighed in on the stock. Morgan Stanley reiterated a “buy” rating and set a $64.00 target price on shares of Starbucks Corp. in a research report on Sunday, August 14th. Zacks Investment Research lowered shares of Starbucks Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 21st. Macquarie upgraded shares of Starbucks Corp. from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 14th. RBC Capital Markets reiterated an “outperform” rating and set a $68.00 target price on shares of Starbucks Corp. in a research report on Tuesday, September 13th. Finally, Jefferies Group reiterated a “buy” rating on shares of Starbucks Corp. in a research report on Tuesday, July 5th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Starbucks Corp. presently has a consensus rating of “Buy” and an average price target of $66.54.
Shares of Starbucks Corp. (NASDAQ:SBUX) opened at 53.45 on Thursday. The firm’s 50-day moving average is $55.17 and its 200-day moving average is $56.68. Starbucks Corp. has a 12-month low of $52.63 and a 12-month high of $64.00. The company has a market capitalization of $78.39 billion, a price-to-earnings ratio of 30.03 and a beta of 0.80.
A number of institutional investors have recently modified their holdings of SBUX. Valley National Advisers Inc. raised its position in shares of Starbucks Corp. by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,062 shares of the coffee company’s stock worth $118,000 after buying an additional 6 shares during the period. Advisory Services Network LLC increased its stake in Starbucks Corp. by 0.3% in the second quarter. Advisory Services Network LLC now owns 4,339 shares of the coffee company’s stock worth $248,000 after buying an additional 13 shares in the last quarter. Autus Asset Management LLC increased its stake in Starbucks Corp. by 0.9% in the second quarter. Autus Asset Management LLC now owns 4,699 shares of the coffee company’s stock worth $269,000 after buying an additional 40 shares in the last quarter. Roberts Glore & Co. Inc. IL increased its stake in Starbucks Corp. by 0.9% in the second quarter. Roberts Glore & Co. Inc. IL now owns 5,325 shares of the coffee company’s stock worth $304,000 after buying an additional 50 shares in the last quarter. Finally, Mirador Capital Partners LP increased its stake in Starbucks Corp. by 0.9% in the second quarter. Mirador Capital Partners LP now owns 7,617 shares of the coffee company’s stock worth $426,000 after buying an additional 67 shares in the last quarter. 68.13% of the stock is owned by institutional investors and hedge funds.
In other Starbucks Corp. news, Director Myron E. Ullman III sold 12,654 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total value of $742,789.80. Following the completion of the transaction, the director now owns 26,654 shares of the company’s stock, valued at approximately $1,564,589.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.38% of the stock is owned by company insiders.
About Starbucks Corp.
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
Receive News & Stock Ratings for Starbucks Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corp. and related stocks with our FREE daily email newsletter.