Starbucks Co. (NASDAQ:SBUX) Expected to Post Quarterly Sales of $8.30 Billion

Equities analysts predict that Starbucks Co. (NASDAQ:SBUX) will post sales of $8.30 billion for the current quarter, according to Zacks. Nine analysts have made estimates for Starbucks’ earnings, with the highest sales estimate coming in at $8.45 billion and the lowest estimate coming in at $8.12 billion. Starbucks posted sales of $6.20 billion in the same quarter last year, which suggests a positive year over year growth rate of 33.9%. The firm is expected to issue its next earnings report on Thursday, November 4th.

On average, analysts expect that Starbucks will report full year sales of $29.21 billion for the current financial year, with estimates ranging from $29.03 billion to $29.36 billion. For the next year, analysts anticipate that the firm will post sales of $32.01 billion, with estimates ranging from $31.44 billion to $32.46 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Starbucks.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Monday, July 26th. The coffee company reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.23. The firm had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.26 billion. Starbucks had a net margin of 10.43% and a negative return on equity of 43.16%. Starbucks’s revenue for the quarter was up 77.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.46) earnings per share.

Several research analysts have recently weighed in on the stock. Piper Sandler boosted their price target on shares of Starbucks from $104.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, July 28th. Cowen raised their price target on Starbucks from $126.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 28th. Guggenheim assumed coverage on Starbucks in a research note on Monday, July 26th. They issued a “neutral” rating and a $125.00 price target on the stock. MKM Partners lifted their price objective on Starbucks from $125.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, July 28th. Finally, Oppenheimer lifted their price objective on Starbucks from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, July 16th. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $126.15.

SBUX stock traded down $1.26 during trading on Friday, reaching $113.41. The company had a trading volume of 9,257,480 shares, compared to its average volume of 5,911,948. The company has a market cap of $133.72 billion, a price-to-earnings ratio of 47.42, a price-to-earnings-growth ratio of 3.06 and a beta of 0.88. The firm has a 50-day simple moving average of $118.13 and a 200-day simple moving average of $114.02. Starbucks has a twelve month low of $81.75 and a twelve month high of $126.32.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 27th. Shareholders of record on Thursday, August 12th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, August 11th. This represents a $1.80 annualized dividend and a yield of 1.59%. Starbucks’s dividend payout ratio is presently 153.85%.

In other Starbucks news, COO John Culver sold 148,619 shares of the business’s stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $119.00, for a total transaction of $17,685,661.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kevin R. Johnson sold 359,177 shares of the business’s stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $122.81, for a total value of $44,110,527.37. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bell Bank raised its position in Starbucks by 0.5% during the second quarter. Bell Bank now owns 15,838 shares of the coffee company’s stock valued at $1,771,000 after purchasing an additional 83 shares in the last quarter. Torray LLC increased its holdings in shares of Starbucks by 2.1% during the second quarter. Torray LLC now owns 4,085 shares of the coffee company’s stock worth $457,000 after buying an additional 85 shares in the last quarter. Thoroughbred Financial Services LLC increased its holdings in shares of Starbucks by 1.7% during the second quarter. Thoroughbred Financial Services LLC now owns 5,304 shares of the coffee company’s stock worth $593,000 after buying an additional 88 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Starbucks by 0.8% during the second quarter. Westfield Capital Management Co. LP now owns 10,840 shares of the coffee company’s stock worth $1,212,000 after buying an additional 90 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC increased its holdings in shares of Starbucks by 2.9% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 3,263 shares of the coffee company’s stock worth $357,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 68.27% of the company’s stock.

Starbucks Company Profile

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

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