Starbucks (SBUX) Issues Earnings Results, Meets Expectations

Starbucks (NASDAQ:SBUX) issued its quarterly earnings results on Thursday. The coffee company reported $0.53 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.53, Bloomberg Earnings reports. The business had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $5.93 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. Starbucks updated its FY18 guidance to $2.48-2.53 EPS.

Shares of SBUX traded up $1.67 during trading hours on Thursday, reaching $59.38. The stock had a trading volume of 14,493,676 shares, compared to its average volume of 10,320,167. Starbucks has a 12 month low of $52.58 and a 12 month high of $64.87. The stock has a market capitalization of $81,257.73, a price-to-earnings ratio of 28.83, a PEG ratio of 1.60 and a beta of 0.64. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Thursday, May 10th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.02%. Starbucks’s payout ratio is 58.25%.

A number of equities research analysts recently issued reports on the company. Vetr raised Starbucks from a “hold” rating to a “buy” rating and set a $59.39 price target on the stock in a research report on Tuesday, April 3rd. Zacks Investment Research upgraded Starbucks from a “sell” rating to a “hold” rating in a research note on Friday, April 20th. Cowen cut Starbucks from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $68.00 to $65.00 in a research note on Friday, April 13th. BidaskClub upgraded Starbucks from a “hold” rating to a “buy” rating in a research note on Friday, March 30th. Finally, UBS set a $66.00 target price on Starbucks and gave the stock a “buy” rating in a research note on Thursday, March 15th. Thirteen research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Starbucks currently has a consensus rating of “Buy” and a consensus target price of $64.17.

In other news, insider Clifford Burrows sold 162,826 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total value of $9,284,338.52. Following the completion of the transaction, the insider now directly owns 331,829 shares in the company, valued at approximately $18,920,889.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Craig Weatherup sold 59,838 shares of the stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total value of $3,596,263.80. Following the completion of the transaction, the director now owns 26,500 shares of the company’s stock, valued at $1,592,650. The disclosure for this sale can be found here. Insiders sold a total of 247,664 shares of company stock valued at $14,243,602 over the last quarter. 3.40% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in Starbucks stock. Buckingham Capital Management Inc. boosted its stake in Starbucks (NASDAQ:SBUX) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,487 shares of the coffee company’s stock after purchasing an additional 1,245 shares during the period. Buckingham Capital Management Inc.’s holdings in Starbucks were worth $2,551,000 at the end of the most recent reporting period. 73.55% of the stock is owned by institutional investors and hedge funds.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Earnings History for Starbucks (NASDAQ:SBUX)

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