Starbucks Corp. (NASDAQ:SBUX) – Wedbush dropped their Q4 2016 earnings per share estimates for Starbucks Corp. in a note issued to investors on Tuesday. Wedbush analyst N. Setyan now anticipates that the firm will post earnings per share of $0.54 for the quarter, down from their prior estimate of $0.55. Wedbush has a “Outperform” rating and a $65.00 price objective on the stock. Wedbush also issued estimates for Starbucks Corp.’s Q2 2017 earnings at $0.46 EPS.
Starbucks Corp. (NASDAQ:SBUX) last issued its earnings results on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.49. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.34 billion. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%.
SBUX has been the subject of several other research reports. Robert W. Baird reaffirmed an “outperform” rating on shares of Starbucks Corp. in a research note on Thursday, September 8th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $69.00 price objective on shares of Starbucks Corp. in a research note on Friday, September 23rd. Zacks Investment Research cut shares of Starbucks Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. BTIG Research set a $64.00 price objective on shares of Starbucks Corp. and gave the company a “buy” rating in a research note on Monday, September 12th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and set a $68.00 price objective on shares of Starbucks Corp. in a research note on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $66.54.
Starbucks Corp. (NASDAQ:SBUX) opened at 54.14 on Friday. Starbucks Corp. has a 12 month low of $52.63 and a 12 month high of $64.00. The stock’s 50 day moving average is $55.13 and its 200-day moving average is $56.64. The stock has a market capitalization of $79.40 billion, a price-to-earnings ratio of 30.42 and a beta of 0.80.
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 shares were sold at an average price of $58.70, for a total value of $742,789.80. Following the completion of the sale, the director now owns 26,654 shares in the company, valued at $1,564,589.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.38% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in SBUX. Sigma Planning Corp boosted its stake in shares of Starbucks Corp. by 0.9% in the first quarter. Sigma Planning Corp now owns 29,365 shares of the coffee company’s stock valued at $1,753,000 after buying an additional 275 shares during the period. Private Trust Co. NA boosted its stake in shares of Starbucks Corp. by 0.4% in the first quarter. Private Trust Co. NA now owns 34,011 shares of the coffee company’s stock valued at $2,030,000 after buying an additional 139 shares during the period. Traynor Capital Management Inc. boosted its stake in shares of Starbucks Corp. by 3.9% in the first quarter. Traynor Capital Management Inc. now owns 10,166 shares of the coffee company’s stock valued at $606,000 after buying an additional 384 shares during the period. Oliver Luxxe Assets LLC boosted its stake in shares of Starbucks Corp. by 2.5% in the first quarter. Oliver Luxxe Assets LLC now owns 9,379 shares of the coffee company’s stock valued at $560,000 after buying an additional 227 shares during the period. Finally, FirstMerit Bank N A Trustee boosted its stake in shares of Starbucks Corp. by 8.8% in the first quarter. FirstMerit Bank N A Trustee now owns 112,585 shares of the coffee company’s stock valued at $6,721,000 after buying an additional 9,063 shares during the period. Hedge funds and other institutional investors own 68.13% of the company’s stock.
About Starbucks Corp.
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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