Starbucks Corp. (NASDAQ:SBUX) – Stock analysts at Wedbush lowered their FY2016 earnings per share (EPS) estimates for Starbucks Corp. in a report issued on Tuesday. Wedbush analyst N. Setyan now forecasts that the firm will post earnings of $1.88 per share for the year, down from their prior estimate of $1.89. Wedbush currently has a “Outperform” rating and a $65.00 target price on the stock. Wedbush also issued estimates for Starbucks Corp.’s Q1 2017 earnings at $0.55 EPS, Q3 2017 earnings at $0.53 EPS, Q4 2017 earnings at $0.58 EPS and FY2017 earnings at $2.13 EPS.
Other equities analysts have also issued research reports about the company. Zacks Investment Research lowered Starbucks Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 27th. Deutsche Bank AG set a $64.00 price target on Starbucks Corp. and gave the company a “hold” rating in a research note on Sunday, July 24th. Robert W. Baird restated an “outperform” rating on shares of Starbucks Corp. in a research note on Tuesday, June 28th. Nomura restated a “buy” rating on shares of Starbucks Corp. in a research note on Tuesday, July 12th. Finally, Jefferies Group restated an “in-line” rating and set a $65.00 price target (down from $70.00) on shares of Starbucks Corp. in a research note on Friday, July 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $66.54.
Shares of Starbucks Corp. (NASDAQ:SBUX) opened at 53.45 on Thursday. The company has a 50-day moving average of $55.17 and a 200-day moving average of $56.68. The stock has a market capitalization of $78.39 billion, a P/E ratio of 30.03 and a beta of 0.80. Starbucks Corp. has a 52 week low of $52.63 and a 52 week high of $64.00.
Starbucks Corp. (NASDAQ:SBUX) last announced its earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.34 billion. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%.
In related 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 sale, the director now owns 26,654 shares of the company’s stock, valued at $1,564,589.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.38% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SBUX. Douglas Lane & Associates LLC acquired a new stake in Starbucks Corp. during the first quarter worth approximately $12,883,000. Vicus Capital boosted its stake in Starbucks Corp. by 13.2% in the first quarter. Vicus Capital now owns 4,444 shares of the coffee company’s stock worth $265,000 after buying an additional 517 shares during the period. Headinvest LLC boosted its stake in Starbucks Corp. by 16.6% in the first quarter. Headinvest LLC now owns 5,610 shares of the coffee company’s stock worth $335,000 after buying an additional 800 shares during the period. OLD National Bancorp IN boosted its stake in Starbucks Corp. by 297.3% in the first quarter. OLD National Bancorp IN now owns 223,512 shares of the coffee company’s stock worth $13,344,000 after buying an additional 167,261 shares during the period. Finally, Raymond James Trust N.A. boosted its stake in Starbucks Corp. by 49.6% in the first quarter. Raymond James Trust N.A. now owns 32,786 shares of the coffee company’s stock worth $1,958,000 after buying an additional 10,868 shares during the period. Institutional investors own 68.13% of the company’s stock.
Starbucks Corp. Company Profile
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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