Starbucks Corporation (SBUX) Posts Quarterly Earnings Results, Hits Expectations

Starbucks Corporation (SBUX) Posts Quarterly  Earnings Results, Hits Expectations

Starbucks Corporation (NASDAQ:SBUX) announced its quarterly earnings results on Thursday. The coffee company reported $0.52 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.85 billion. Starbucks Corporation had a net margin of 13.30% and a return on equity of 51.99%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 EPS. Starbucks Corporation updated its FY17 guidance to $2.12-2.14 EPS.

Shares of Starbucks Corporation (NASDAQ:SBUX) opened at 56.12 on Monday. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $61.79. The firm has a market cap of $81.68 billion, a P/E ratio of 28.78 and a beta of 0.79. The stock’s 50 day moving average price is $57.56 and its 200-day moving average price is $55.87.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Shareholders of record on Thursday, February 9th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, February 7th. Starbucks Corporation’s dividend payout ratio is 51.28%.

In related news, insider Clifford Burrows sold 80,000 shares of the company’s stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $58.88, for a total transaction of $4,710,400.00. Following the completion of the sale, the insider now owns 248,517 shares in the company, valued at $14,632,680.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Culver sold 168,814 shares of the company’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $58.65, for a total value of $9,900,941.10. Following the sale, the insider now owns 478,446 shares of the company’s stock, valued at approximately $28,060,857.90. The disclosure for this sale can be found here. 3.38% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in SBUX. Farmers National Bank acquired a new position in shares of Starbucks Corporation during the second quarter worth about $101,000. Cascade Investment Advisors Inc. acquired a new position in shares of Starbucks Corporation during the second quarter worth about $107,000. Valley National Advisers Inc. increased its position in shares of Starbucks Corporation by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,062 shares of the coffee company’s stock worth $118,000 after buying an additional 6 shares during the period. Buffington Mohr McNeal increased its position in shares of Starbucks Corporation by 0.8% in the third quarter. Buffington Mohr McNeal now owns 2,142 shares of the coffee company’s stock worth $115,000 after buying an additional 17 shares during the period. Finally, Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of Starbucks Corporation during the second quarter worth about $123,000. Institutional investors and hedge funds own 68.52% of the company’s stock.

Several equities research analysts have issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $65.00 price target on shares of Starbucks Corporation in a report on Thursday, December 8th. BTIG Research set a $64.00 price target on shares of Starbucks Corporation and gave the company a “buy” rating in a report on Saturday, December 10th. Wells Fargo & Company reissued an “outperform” rating and issued a $65.00 price target on shares of Starbucks Corporation in a report on Friday, December 9th. Jefferies Group LLC reissued a “buy” rating and issued a $65.00 price target on shares of Starbucks Corporation in a report on Friday, December 9th. Finally, RBC Capital Markets reissued an “outperform” rating and issued a $64.00 price target on shares of Starbucks Corporation in a report on Thursday, December 1st. Eight analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $64.40.

About Starbucks Corporation

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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