$6.68 Billion in Sales Expected for Starbucks Co. (NASDAQ:SBUX) This Quarter

Wall Street brokerages predict that Starbucks Co. (NASDAQ:SBUX) will announce $6.68 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Starbucks’ earnings, with the lowest sales estimate coming in at $6.57 billion and the highest estimate coming in at $7.01 billion. Starbucks posted sales of $6.31 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.9%. The company is expected to announce its next quarterly earnings results after the market closes on Thursday, July 25th.

On average, analysts expect that Starbucks will report full year sales of $26.26 billion for the current fiscal year, with estimates ranging from $26.00 billion to $26.63 billion. For the next financial year, analysts forecast that the business will report sales of $28.24 billion, with estimates ranging from $27.86 billion to $28.67 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Starbucks.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, April 25th. The coffee company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. Starbucks had a negative return on equity of 494.61% and a net margin of 11.87%. The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same period in the previous year, the business earned $0.53 EPS. Starbucks’s revenue for the quarter was up 4.5% compared to the same quarter last year.

Several equities research analysts have issued reports on the company. Zacks Investment Research upgraded HAYS PLC/ADR from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. Piper Jaffray Companies set a $40.00 price target on Tapestry and gave the company a “buy” rating in a report on Monday, June 10th. Bank of America set a $275.00 price target on SVB Financial Group and gave the company a “buy” rating in a report on Friday, April 26th. Jefferies Financial Group boosted their price target on IAC/InterActiveCorp from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, BidaskClub downgraded Extraction Oil & Gas from a “hold” rating to a “sell” rating in a report on Saturday, May 4th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $79.36.

SBUX stock traded up $0.70 during midday trading on Friday, hitting $89.77. 4,835,791 shares of the company’s stock were exchanged, compared to its average volume of 9,172,187. Starbucks has a 12-month low of $50.21 and a 12-month high of $89.82. The business has a 50 day moving average of $82.58. The firm has a market capitalization of $108.73 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 2.48 and a beta of 0.55.

In other Starbucks news, Director Myron E. Ullman III sold 9,973 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $84.64, for a total transaction of $844,114.72. Following the completion of the transaction, the director now owns 28,390 shares in the company, valued at approximately $2,402,929.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Culver sold 63,937 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $78.04, for a total value of $4,989,643.48. The disclosure for this sale can be found here. Insiders have sold a total of 93,883 shares of company stock valued at $7,422,903 in the last 90 days. Insiders own 3.98% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Welch & Forbes LLC boosted its position in Starbucks by 0.3% during the 2nd quarter. Welch & Forbes LLC now owns 106,039 shares of the coffee company’s stock worth $8,889,000 after acquiring an additional 349 shares during the period. Country Club Trust Company n.a. lifted its holdings in shares of Starbucks by 3.2% in the second quarter. Country Club Trust Company n.a. now owns 7,787 shares of the coffee company’s stock valued at $653,000 after buying an additional 244 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its holdings in shares of Starbucks by 3.2% in the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 37,189 shares of the coffee company’s stock valued at $3,118,000 after buying an additional 1,149 shares during the period. CENTRAL TRUST Co lifted its holdings in shares of Starbucks by 8.1% in the second quarter. CENTRAL TRUST Co now owns 71,818 shares of the coffee company’s stock valued at $6,397,000 after buying an additional 5,358 shares during the period. Finally, Smith Salley & Associates lifted its holdings in shares of Starbucks by 7.8% in the second quarter. Smith Salley & Associates now owns 5,255 shares of the coffee company’s stock valued at $441,000 after buying an additional 378 shares during the period. Institutional investors own 71.60% of the company’s stock.

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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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