Starbucks Corporation (SBUX) Issues FY18 Earnings Guidance
Starbucks Corporation (NASDAQ:SBUX) updated its FY18 earnings guidance on Thursday. The company provided EPS guidance of $2.30-2.33 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.35.
Several brokerages have weighed in on SBUX. Wedbush reaffirmed a neutral rating and set a $60.00 target price (down previously from $65.00) on shares of Starbucks Corporation in a research note on Saturday, July 22nd. Sanford C. Bernstein reaffirmed an outperform rating and set a $67.00 target price on shares of Starbucks Corporation in a research note on Wednesday, August 23rd. Deutsche Bank AG reaffirmed a buy rating and set a $67.00 target price on shares of Starbucks Corporation in a research note on Monday, October 9th. BidaskClub raised shares of Starbucks Corporation from a sell rating to a hold rating in a research note on Tuesday, August 1st. Finally, BMO Capital Markets reaffirmed a hold rating on shares of Starbucks Corporation in a research note on Thursday, October 5th. Thirteen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Starbucks Corporation presently has a consensus rating of Buy and an average target price of $64.02.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the company earned $0.56 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.19%. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s dividend payout ratio (DPR) is 50.76%.
In other Starbucks Corporation news, Director Jorgen Vig Knudstorp purchased 18,000 shares of the stock in a transaction dated Friday, August 4th. The shares were bought at an average cost of $55.30 per share, with a total value of $995,400.00. Following the completion of the acquisition, the director now owns 18,000 shares of the company’s stock, valued at $995,400. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider John Culver sold 64,776 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the transaction, the insider now directly owns 390,341 shares in the company, valued at $20,898,857.14. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.
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A hedge fund recently bought a new stake in Starbucks Corporation stock. Verition Fund Management LLC purchased a new stake in Starbucks Corporation (NASDAQ:SBUX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 18,219 shares of the coffee company’s stock, valued at approximately $1,062,000. Hedge funds and other institutional investors own 70.87% of the company’s stock.
About Starbucks Corporation
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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