Q4 2016 EPS Estimates for Starbucks Corp. (SBUX) Lowered by Wedbush
Starbucks Corp. (NASDAQ:SBUX) – Equities research analysts at Wedbush dropped their Q4 2016 earnings per share (EPS) estimates for shares of Starbucks Corp. in a research report issued on Tuesday. Wedbush analyst N. Setyan now forecasts that the brokerage will post earnings per share of $0.54 for the quarter, down from their prior estimate of $0.55. Wedbush has a “Outperform” rating and a $65.00 price target on the stock. Wedbush also issued estimates for Starbucks Corp.’s Q2 2017 earnings at $0.46 EPS.
Starbucks Corp. (NASDAQ:SBUX) last posted 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 firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations 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 also recently weighed in on the company. Credit Agricole SA dropped their target price on Starbucks Corp. from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $69.00 target price on shares of Starbucks Corp. in a report on Friday, September 23rd. Piper Jaffray Cos. set a $72.00 target price on Starbucks Corp. and gave the company a “buy” rating in a report on Tuesday, September 20th. Zacks Investment Research downgraded Starbucks Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 21st. Finally, Longbow Research assumed coverage on Starbucks Corp. in a report on Wednesday, September 21st. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Starbucks Corp. currently has a consensus rating of “Buy” and a consensus target price of $66.54.
Shares of Starbucks Corp. (NASDAQ:SBUX) opened at 54.14 on Friday. Starbucks Corp. has a 12-month low of $52.63 and a 12-month high of $64.00. The firm has a market capitalization of $79.40 billion, a PE ratio of 30.42 and a beta of 0.80. The company has a 50-day moving average of $55.13 and a 200 day moving average of $56.64.
A number of institutional investors have recently modified their holdings of SBUX. Bank of Montreal Can bought a new position in shares of Starbucks Corp. during the second quarter worth about $204,254,000. Emerald Acquisition Ltd. bought a new position in shares of Starbucks Corp. during the second quarter worth about $148,507,000. Capital World Investors boosted its position in shares of Starbucks Corp. by 8.1% in the second quarter. Capital World Investors now owns 26,626,026 shares of the coffee company’s stock worth $1,520,879,000 after buying an additional 2,000,107 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Starbucks Corp. by 75.9% in the second quarter. Ameriprise Financial Inc. now owns 4,360,676 shares of the coffee company’s stock worth $249,099,000 after buying an additional 1,882,130 shares during the period. Finally, Janus Capital Management LLC boosted its position in shares of Starbucks Corp. by 8.7% in the second quarter. Janus Capital Management LLC now owns 21,122,832 shares of the coffee company’s stock worth $1,206,513,000 after buying an additional 1,691,400 shares during the period. Hedge funds and other institutional investors own 68.13% of the company’s stock.
In other Starbucks Corp. news, Director Myron E. Ullman III sold 12,654 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total transaction of $742,789.80. Following the transaction, the director now owns 26,654 shares in the company, valued at $1,564,589.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.38% of the company’s stock.
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.
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