Starbucks Corp. Expected to Earn Q1 2017 Earnings of $0.52 Per Share (SBUX)
Starbucks Corp. (NASDAQ:SBUX) – Investment analysts at William Blair issued their Q1 2017 earnings per share estimates for Starbucks Corp. in a report released on Tuesday. William Blair analyst S. Zackfia anticipates that the brokerage will earn $0.52 per share for the quarter. William Blair also issued estimates for Starbucks Corp.’s Q2 2017 earnings at $0.45 EPS, Q3 2017 earnings at $0.58 EPS, Q4 2017 earnings at $0.58 EPS and FY2018 earnings at $2.46 EPS.
Other research analysts have also issued reports about the stock. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $69.00 price objective (down from $73.00) on shares of Starbucks Corp. in a research note on Wednesday, July 20th. Cowen and Company reaffirmed a “buy” rating on shares of Starbucks Corp. in a research note on Monday, July 18th. Nomura reaffirmed a “buy” rating on shares of Starbucks Corp. in a research note on Tuesday, July 12th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Starbucks Corp. in a research note on Tuesday, July 12th. Finally, Vetr lowered shares of Starbucks Corp. from a “strong-buy” rating to a “buy” rating and set a $62.76 price objective for the company. in a research note on Monday, July 11th. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $66.04.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded up 0.82% on Wednesday, hitting $53.04. 7,030,565 shares of the company traded hands. Starbucks Corp. has a 1-year low of $52.59 and a 1-year high of $64.00. The firm’s 50-day moving average is $54.13 and its 200 day moving average is $56.08. The firm has a market capitalization of $77.79 billion, a P/E ratio of 29.80 and a beta of 0.83.
Starbucks Corp. (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. The company earned $5.20 billion during 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%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allegis Investment Advisors LLC increased its position in Starbucks Corp. by 23.8% in the first quarter. Allegis Investment Advisors LLC now owns 18,901 shares of the coffee company’s stock valued at $1,128,000 after buying an additional 3,634 shares in the last quarter. Wrapmanager Inc. purchased a new position in Starbucks Corp. during the first quarter valued at approximately $226,000. Algert Global LLC increased its position in Starbucks Corp. by 4.1% in the first quarter. Algert Global LLC now owns 27,324 shares of the coffee company’s stock valued at $1,631,000 after buying an additional 1,084 shares in the last quarter. Mckinley Capital Management LLC Delaware increased its position in Starbucks Corp. by 76.4% in the first quarter. Mckinley Capital Management LLC Delaware now owns 201,422 shares of the coffee company’s stock valued at $12,025,000 after buying an additional 87,228 shares in the last quarter. Finally, BlackRock Group LTD increased its position in Starbucks Corp. by 5.9% in the first quarter. BlackRock Group LTD now owns 12,505,831 shares of the coffee company’s stock valued at $746,597,000 after buying an additional 695,708 shares in the last quarter. 68.39% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Myron E. Ullman III sold 12,654 shares of the stock in a transaction on 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 directly owns 26,654 shares of the company’s stock, valued at approximately $1,564,589.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.38% of the stock is owned by corporate 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.
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