Starbucks (SBUX) Expected to Announce Quarterly Sales of $6.35 Billion

Brokerages expect Starbucks (NASDAQ:SBUX) to announce $6.35 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Starbucks’ earnings, with estimates ranging from $6.24 billion to $6.41 billion. Starbucks reported sales of $5.66 billion in the same quarter last year, which indicates a positive year over year growth rate of 12.2%. The company is scheduled to announce its next quarterly earnings report on Thursday, July 26th.

On average, analysts expect that Starbucks will report full-year sales of $24.84 billion for the current fiscal year, with estimates ranging from $24.57 billion to $25.03 billion. For the next financial year, analysts anticipate that the firm will post sales of $26.77 billion per share, with estimates ranging from $26.14 billion to $27.46 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Starbucks.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, April 26th. The coffee company reported $0.53 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. The company had revenue of $6.03 billion for the quarter, compared to analyst estimates of $5.93 billion. Starbucks had a net margin of 18.71% and a return on equity of 60.33%. Starbucks’s revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company posted $0.45 earnings per share.

Several equities analysts recently issued reports on the stock. ValuEngine lowered shares of Starbucks from a “hold” rating to a “sell” rating in a report on Thursday, May 3rd. Wedbush reissued a “hold” rating and set a $58.00 price objective on shares of Starbucks in a report on Friday, April 27th. Oppenheimer reissued an “outperform” rating on shares of Starbucks in a report on Friday, April 27th. BidaskClub lowered shares of Starbucks from a “buy” rating to a “hold” rating in a report on Saturday, May 5th. Finally, Vetr raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $59.39 price objective on the stock in a report on Monday, March 26th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eighteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.25.

Shares of Starbucks opened at $57.16 on Monday, Marketbeat reports. The company has a market cap of $78.88 billion, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 1.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.83 and a current ratio of 1.09. Starbucks has a 52-week low of $52.58 and a 52-week high of $64.87.

Starbucks announced that its board has approved a stock buyback program on Thursday, April 26th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the coffee company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Thursday, May 10th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.20 annualized dividend and a dividend yield of 2.10%. Starbucks’s payout ratio is currently 58.25%.

In other news, Director Craig Weatherup sold 59,838 shares of Starbucks stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the completion of the sale, the director now directly owns 26,500 shares in the company, valued at $1,592,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.40% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Magellan Asset Management Ltd lifted its stake in shares of Starbucks by 18.1% during the fourth quarter. Magellan Asset Management Ltd now owns 30,912,781 shares of the coffee company’s stock worth $1,775,321,000 after buying an additional 4,744,675 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Starbucks by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 30,728,508 shares of the coffee company’s stock worth $1,764,739,000 after buying an additional 1,210,393 shares during the period. Capital International Investors lifted its position in Starbucks by 28.3% during 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 purchasing an additional 4,696,452 shares during the period. Geode Capital Management LLC lifted its position in Starbucks by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 17,008,111 shares of the coffee company’s stock valued at $974,952,000 after purchasing an additional 319,533 shares during the period. Finally, Polen Capital Management LLC lifted its position in Starbucks by 3.0% during the first quarter. Polen Capital Management LLC now owns 12,229,797 shares of the coffee company’s stock valued at $707,983,000 after purchasing an additional 356,525 shares during the period. Institutional investors and hedge funds own 74.78% 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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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