Starbucks Co. (SBUX) Expected to Post Quarterly Sales of $6.15 Billion

Equities analysts predict that Starbucks Co. (NASDAQ:SBUX) will report $6.15 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for Starbucks’ earnings, with estimates ranging from $5.97 billion to $6.22 billion. Starbucks reported sales of $5.73 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.3%. The company is expected to issue its next earnings report after the market closes on Thursday, January 25th.

According to Zacks, analysts expect that Starbucks will report full-year sales of $6.15 billion for the current year, with estimates ranging from $23.93 billion to $24.93 billion. For the next financial year, analysts forecast that the company will report sales of $26.56 billion per share, with estimates ranging from $25.86 billion to $27.39 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Starbucks.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. The firm’s revenue for the quarter was down .2% on a year-over-year basis.

A number of research firms have recently commented on SBUX. Telsey Advisory Group reaffirmed an “outperform” rating and set a $70.00 target price (up previously from $66.00) on shares of Starbucks in a research note on Friday. Oppenheimer reaffirmed a “buy” rating and set a $66.00 target price on shares of Starbucks in a research note on Friday. Robert W. Baird cut their target price on Starbucks from $70.00 to $66.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. Mizuho reaffirmed a “buy” rating and set a $75.00 target price on shares of Starbucks in a research note on Friday, September 29th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $70.00 target price on shares of Starbucks in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $63.54.

In other Starbucks news, SVP Paul Mutty sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total transaction of $170,850.00. Following the completion of the sale, the senior vice president now owns 10,438 shares in the company, valued at $594,444.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joshua Cooper Ramo sold 60,000 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $59.43, for a total value of $3,565,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 497,808 shares of company stock valued at $28,559,521. 3.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Middleton & Co Inc MA lifted its holdings in shares of Starbucks by 11.8% during the 3rd quarter. Middleton & Co Inc MA now owns 98,873 shares of the coffee company’s stock valued at $5,310,000 after purchasing an additional 10,458 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in shares of Starbucks by 29.7% during the 2nd quarter. WINTON GROUP Ltd now owns 27,191 shares of the coffee company’s stock valued at $1,586,000 after purchasing an additional 6,225 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Starbucks by 12.5% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock valued at $5,388,000 after purchasing an additional 10,250 shares during the last quarter. Geneva Advisors LLC lifted its holdings in shares of Starbucks by 2.3% during the 2nd quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock valued at $160,390,000 after purchasing an additional 63,041 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Starbucks by 3,076.5% during the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock valued at $809,917,000 after purchasing an additional 13,452,551 shares during the last quarter. Hedge funds and other institutional investors own 70.76% of the company’s stock.

Shares of Starbucks (NASDAQ:SBUX) opened at $61.26 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. Starbucks has a 52 week low of $52.58 and a 52 week high of $64.87. The firm has a market capitalization of $87,160.73, a P/E ratio of 31.10, a price-to-earnings-growth ratio of 1.66 and a beta of 0.75.

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Starbucks Company Profile

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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Earnings History and Estimates for Starbucks (NASDAQ:SBUX)

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