Oppenheimer Research Analysts Boost Earnings Estimates for Starbucks Co. (SBUX)
Starbucks Co. (NASDAQ:SBUX) – Stock analysts at Oppenheimer boosted their FY2018 earnings per share (EPS) estimates for Starbucks in a research note issued to investors on Thursday. Oppenheimer analyst B. Bittner now anticipates that the coffee company will post earnings per share of $2.44 for the year, up from their prior estimate of $2.31.
A number of other equities analysts also recently issued reports on the company. OTR Global upgraded Starbucks to a “positive” rating in a research report on Thursday, October 26th. Morgan Stanley raised their price objective on Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. Bank of America restated a “neutral” rating and set a $65.00 price objective on shares of Starbucks in a research report on Thursday, September 14th. Vetr upgraded Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.05 price objective for the company in a research report on Tuesday, November 21st. Finally, Cowen restated an “outperform” rating and set a $62.00 price objective (down from $63.00) on shares of Starbucks in a research report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $63.23.
Shares of Starbucks (SBUX) traded up $0.64 on Monday, hitting $59.82. The stock had a trading volume of 8,652,935 shares, compared to its average volume of 6,677,086. Starbucks has a 52 week low of $52.58 and a 52 week high of $64.87. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $85,110.00, a P/E ratio of 30.37, a price-to-earnings-growth ratio of 1.61 and a beta of 0.76.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share.
In related news, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $59.43, for a total transaction of $3,565,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $56.73, for a total value of $3,214,662.18. Following the sale, the director now directly owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. Insiders have sold 497,808 shares of company stock valued at $28,559,521 in the last ninety days. 3.40% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in SBUX. Magellan Asset Management Ltd grew its stake in Starbucks by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after acquiring an additional 18,667,265 shares during the period. Janus Henderson Group PLC grew its stake in Starbucks by 3,076.5% in the second quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock valued at $809,917,000 after acquiring an additional 13,452,551 shares during the period. Parnassus Investments CA acquired a new stake in Starbucks in the third quarter valued at approximately $498,863,000. Capital International Investors grew its stake in Starbucks by 28.3% in the third quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after acquiring an additional 4,696,452 shares during the period. Finally, Harding Loevner LP acquired a new stake in Starbucks in the third quarter valued at approximately $128,044,000. 70.67% of the stock is owned by hedge funds and other institutional investors.
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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